Majority Of Private Health Insurance Coverage In The Us Is Employment-based
The US health insurance market is dominated by private players such as UnitedHealth Group and WellPoint
. Employment-based health insurance is provided by companies as an employee benefit package to their employees. Almost all the major employers in the US offer group health insurance to their employees. Medicare and Medicaid are the main public health insurance programs.
Medicare offers health insurance coverage to the elderly and also to several million disabled people under the age of 65 since both groups have relatively higher expense for healthcare. The Government regulations have been significantly impacting the US health insurance market. The Patient Protection and Affordable Care Act (PPACA) was signed into law on March 23, 2010. The provisions of this Affordable care act (ACA) will be effective in various dates over the period. Reversing the slide in insurance coverage was one of the principal grounds for the ACA, which is predicted to increase the number of insured people in the US by 30 million by 2016.
Over the period, small businesses have faced several issues due to the rising cost of premiums. From 2010, small businesses are provided Health Care Tax Credit covering up to 35% of an employers insurance costs. This allows small businesses to expand and compete. This law enables above 4 million small business owners and non-profit organizations to be eligible for receiving these new tax credits.
The report titled The US Health Insurance Industry Outlook to 2015 Promising Health Reforms to Stimulate Industry Growth provides a comprehensive analysis on the Health Insurance market in the US covering various aspects such as market size of the health insurance industry on the basis of total premium written and total number of people with health insurance, market segmentation by Comprehensive, Medicaid, Medicare and FEHBP, and by health insurance coverage. The report also provides information on the government regulations and health insurance industry value chain. The report also entails competitive landscape and profiles of the major players operating in the industry. The future projections are included to provide an insight on the prospects in the US Health insurance industry.
Premium prices have more than doubled over the period. The cost of an employer-based family coverage plan increased from ~ % to ~ % of family income over the decade. The health insurance premium surged as a percentage of private sector employee compensation from ~ % in 1999 to ~ % in 2009 thus cutting down the wages of the workers.
The US health insurance industry in terms of the total direct premium written is slated to grow over the 5 years at a CAGR of 5.3% to attain market size of USD ~ billion by 2015. The PPACA law will significantly change the course of the industry. This law will expand health insurance access to 30 million individuals thus opening up prospects for the growth of this industry. This law will also aim to control the rising price of premiums.
Key Topics Covered in the Report:
The market size of the US Health insurance industry by direct premium written and by total number of insured people
Market Segmentation on the basis of Comprehensive, Medicaid, Medicare and FEHBP, and by health insurance coverage.
Value chain of the industry.
Government regulations affecting health insurance industry.
Trends and developments pertaining to the industry.
Competitive Landscape and Profiles of the major players
Cause and Effect Relationship Analysis between industry factors and expected Health Insurance Industry Prospects
Future outlook and projections of the US health insurance industry in terms of total premium written.
Macroeconomic and industry factors affecting the industry
For more information, please refer to the link below:
http://ammindpower.com/report.php?A=263
by: AM Mindpower Solutions
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