MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, released a third quarter 2024 health insurance segment enrollment update. MFA compared membership between the 3rd quarter of 2023 with the 3rd quarter of 2024 to provide greater insight into enrollment trends for the Individual, Group, ASO, Medicare Advantage, and Medicaid insurance segments. As of September 30, 2024, approximately 319 million people received medical coverage from U.S. health insurers. This number is down 2 million members from a year ago.
- Between 3Q23 and 3Q24, membership for the Individual market gained approximately 4.8 million more members.
- The Medicare Advantage market also experienced a membership increase with 1.35 million new members, representing a 4.3% growth, from 3Q23.
- The Employer-group risk and Employer-group ASO (administrative services only for self-funded plans) segments provide the largest sources of coverage in the industry, however, while Employer-group ASO saw a 2.3 million member increase, the Employer-group risk market experienced a -3% year-over-year membership declines.
To read the full text of "Health Insurance Enrollment Trends; a Third Quarter Segment Comparison", visit the Analysis Briefs library on Mark Farrah Associates' website.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. Follow us on LinkedIn!
Also, for the latest insights about health plan enrollment trends and financial performance, visit the FREE MFA Briefs on the MFA website.
