As per a study, the global health insurance market size is likely to cross USD 1.5 trillion in terms of total annual remuneration through 2025. Increasing incidences of chronic disorders such as cardiovascular diseases, diabetes, liver and kidney illnesses globally owing to factors like unhealthy lifestyle, stress, obesity, and others have supported the need for a reliable health insurance solution. According to the Centers for Medicare and Medicaid Services National Health Expenditure data of 2017, NHE increased to USD 3.5 trillion or 3.5% of the entire expenditure. However, some claim reimbursement procedures take longer time and may hamper the business growth slightly.
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In 2018, the HMO segment had become one of the prominent gainers within the health insurance market despite the rigid regulations and is expected to continue with this performance in the years ahead as well, with affordable medical cost management, better claims handling, sound balance sheets and expansion through mergers and acquisitions. Subsequently, the segment is striving to gain a bigger market share and offer more innovative ways to avail treatments for the customers globally.
Recently, Kaiser Permanente’s HMO plan in Washington was rated number one in the state and also received a top ranking for helping people who were suffering from acute conditions, along with aiding people who were suffering from chronic diseases. According to 2018 eValue8 survey, Kaiser Permanente Washington comprises of the most successful programs in the country, from effective health plans for its HMO members to control acute and chronic conditions.
In terms of geographical expanse, the North America health insurance market has gained recognition due to the availability of various providers along with the high prevalence of chronic diseases. Additionally, insurance providers establish various policies to control the health expenditure which has driven the regional industrial demand.
Excessive consumption of alcohol and tobacco, lack of physical activity, and poor nutrition are major factors behind the increasing cases of diseases. Governments along with private institutions have worked towards introducing health insurance policies that are customized as per the individual’s needs. For instance, the State Children’s Health Insurance Program, Life programs, Medicaid, Department of Defense, TRICARE, among various others.
Prominent industry players in health insurance market such as Kaiser Permanente, Blue Cross Blue Shield Companies, Wellcare and United Healthcare are allowing better access to healthcare policies for enhancing their customer base and ensuring that customers get the best healthcare services according to their requirements.
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Partial Chapter of the Table of Content
Chapter 4. Health Insurance Market, By Service Provider
4.1. Key segment trends
4.2.1. Market size, by region, 2014-2025 (USD Billion)
4.3.1. Market size, by region, 2014-2025 (USD Billion)
Chapter 5. Health Insurance Market, By Type
5.1. Key segment trends
5.2. Hospitalization insurance
5.2.1. Market size, by region, 2014-2025 (USD Billion)
5.3. Critical illness insurance
5.3.1. Market size, by region, 2014-2025 (USD Billion)
5.4. Income protection insurance
5.4.1. Market size, by region, 2014-2025 (USD Billion)
5.5. Medical insurance
5.5.1. Market size, by region, 2014-2025 (USD Billion)
Chapter 6. Health Insurance Market, By Network Provider
6.1. Key segment trends
6.2. Health Maintenance Organization (HMO)
6.2.1. Market size, by region, 2014-2025 (USD Billion)
6.3. Preferred Provider Organization (PPO)
6.3.1. Market size, by region, 2014-2025 (USD Billion)
6.4. Exclusive Provider Organization (EPO)
6.4.1. Market size, by region, 2014-2025 (USD Billion)
6.5.1. Market size, by region, 2014-2025 (USD Billion)
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