Nearly 301 million people received medical coverage from U.S. health insurers as of June 30, 2021, an increase of up approximately 7.2 million from the same time a year ago, according to the recently released Second Quarter 2021 Health Insurance Segment Update from Mark Farrah Associates.
The figures are based on data filed in statutory financial reports from the NAIC (National Association of Insurance Commissioners), the CA DMHC (California Department of Managed Health Care) and data from MFA’s ASO estimates.
Mid-year enrollment trends indicated membership gains for Individual, Medicare Advantage (MA), and Managed Medicaid, while the Employer-Group risk segment and Employer-Group ASO (administrative services only for self-funded plans) business experienced a year-over-year decline.
Over 16.1 million people are currently enrolled in Individual, Non-Group medical plans, representing a 4.8% increase between Q2 2020 and Q2 2021.
Medicaid and CHIP programs now provide coverage for approximately 80.5 million beneficiaries, representing 9% growth, year-over-year.
The report shows Medicare Advantage (MA) enrollment continues to experience increases as MA plans, with extra benefits and services at lower costs over original Medicare, remain an appealing option for seniors.
“Although MA market penetration is strong, there is still ample opportunity for growth with only 42% of the 63 million people eligible for Medicare enrolled in MA plans,” the report states. “As of June 30, 2021, Medicare Advantage experienced membership increases as nearly 2.4 million more seniors chose an MA plan from the same period a year ago. According to plan-reported statutory reports, enrollment in MA plans grew from 24.6 million in June of 2020 to 27 million in June 2021. This is a sizable increase of 9.7% growth, due to the continuing number of seniors entering retirement each day.”
Click here to read the free full text of “Health Insurance Membership Reaches Over 300M at 2Q21,” from the Analysis Briefs library on Mark Farrah Associates’ website.