MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, released a year-over-year comparison for health insurance segment enrollment. MFA assessed membership between 2Q23 and 2Q24 to provide greater insight into enrollment trends for the Individual, Group, ASO, Medicare Advantage, and Medicaid insurance segments. As of June 30, 2024, approximately 319 million people received medical coverage from U.S. health insurers. This number is down 5.3 million members from a year ago.
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Second quarter enrollment trends indicate membership gains for Medicare Advantage (MA), Employer Group self-funded administrative services only (ASO) business and Individual, while the Medicaid and Employer Group Risk segments experienced year-over-year declines.
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Managed Care Organizations (MCOs) and Fee-for-Service type Medicaid programs based on membership filed in statutory financial reports from the NAIC and the CA DMHC, as well as state reported Medicaid and CMS reported Medicaid enrollment reports, experienced a 12-million-member decline from 2Q23.
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For 2Q24, the Medicare Advantage market experienced a membership increase of over 1.1 million new members, representing a 3.5% growth, from 2Q23.
- 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 an increase of over 1.8 million enrollees, the Employer-group risk market experienced year-over-year membership declines.
To read the full text of "Health Insurance Enrollment Trends; a Second Quarter Segment-by-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.
