MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, reported enrollment in individual medical plans totaled approximately 20.4 million as of September 2023, representing a 15.8% increase from the 17.6 million members in September 2022. This is the largest number of participants this segment has seen. In the latest brief, MFA provides insights into third quarter individual health insurance market trends with state-by-state membership comparisons.
Featured highlights include:
- Centene, Guidewell Mutual Holding Group (the parent company of Blue Cross Blue Shield affiliates operating in Florida), Elevance Health, and CVS all reported more than 1 million individual medical covered lives as of third quarter 2023.
- CVS experienced a year-over-year enrollment increase of 648.5%, in its Individual business.
- Florida, California, and Texas had the highest number of enrollees, with Florida covering nearly 3.6 million members as of 3Q23.
- For 3Q23, plans with individual business reported a 1.8% year-over-year increase overall in premiums per member per month (PMPM).
To read the full text of "Record Breaking Enrollment for the Individual Health Insurance Market", 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!
