Mark Farrah Associates (MFA) recently released a report on the year-end 2023 health insurance segment enrollment update, comparing membership from the 4th quarter of 2023 to the 4th quarter of 2022. The report provides insights into enrollment trends for various insurance segments including Individual, Group, ASO, Medicare Advantage, and Medicaid. As of December 31, 2023, approximately 318 million people were covered by U.S. health insurers, representing a decrease of 2.1 million members from the previous year.
During the comparison period, the Individual market saw an increase of approximately 3.5 million members. The Medicare Advantage market also experienced growth, with 1.8 million new members representing a 6.3% increase from the previous year. While the Employer-group risk and Employer-group ASO segments are the largest sources of coverage in the industry, the Employer-group ASO segment saw an increase of 1.6 million enrollees, while the Employer-group risk market experienced a decline in membership.
For more information and to read the full text of “2023 Health Insurance Enrollment Trends; a Segment-by-Segment Comparison”, interested parties can visit the Analysis Briefs library on Mark Farrah Associates’ website.
Mark Farrah Associates (MFA) is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Their products include Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™, and 5500 Employer Health Plus. For the latest insights about health plan enrollment trends and financial performance, visitors can access the FREE MFA Briefs on the MFA website. Connect with Mark Farrah Associates on LinkedIn for more updates.