Insights into the Marketplace and Individual Market Growth
KENNEBUNK, Maine, Dec. 22, 2014 /PRNewswire/ -- Mark Farrah Associates (MFA), www.markfarrah.com, released an analysis brief providing a summary of the 2015 marketplace exchange projections and insights about shifting health plan enrollment trends.
According to a recent ASPE (Office of the Assistant Secretary for Planning and Evaluation, Department of Health and Human Services) report, an estimated 6.7 million people were enrolled in individual medical plans through the Marketplace as of October 2014 and HHS is projecting that 9.0 to 9.9 million individuals will be enrolled through the Marketplace by year-end 2015.
In "Health Insurance Enrollment and Marketplace Estimates: December 2014 Insights" Mark Farrah Associates provided insights about shifting enrollment trends based on the latest health plan membership reports. The analysis also assessed growth in the individual, non-group segment by comparing enrollment totals from 3rd quarter 2013 with 3rd quarter 2014 figures. An estimated 17.6 million people currently have individual, non-group medical coverage and enrollment in this segment grew by 5.3 million members. Managed Medicaid and Medicare Advantage membership also saw an increase. Employer group ASO membership grew by 3.2 million members in the last year but there was a drop in enrollment for group risk plans offered by employers. Mark Farrah Associates will continue to monitor enrollment changes in addition to keeping an eye on Marketplace indicators.
The majority of health plans industry-wide use Mark Farrah Associates' Health Coverage Portal™ to track enrollment trends by carrier and state. In addition to keeping tabs on membership, insurers evaluate quarter to quarter competitor financial performance by monitoring profitability and assessing segment measures of underwriting gain or loss. This data that is sourced from statutory financial reports filed with the National Association of Insurance Commissioners (NAIC) and the California Department of Managed Health Care (CDMHC) provides important insights about competitive positioning in target markets. To learn more about our databases, designed to provide strategic guidance for health plans and healthcare vendors, access the product brochures and preview videos in the Products section of our website at www.markfarrah.com.
To read the full text of "Health Insurance Enrollment and Marketplace Estimates: December 2014 Insights", visit the Analysis Briefs library on Mark Farrah Associates' website www.markfarrah.com.
About Mark Farrah Associates (MFA)
Mark Farrah Associates™ (MFA) is a leading provider of payer market share and financial performance data for the healthcare industry. MFA's Health Coverage Portal™ presents risk-based and self-funded membership data and detailed health plan financial statement data. Our product portfolio includes Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, Medicare Business Online™, Medicare Benefits Analyzer™, and Health Plans USA™.
Contact:
Mark Farrah Associates
Ann Marie Wolfe, 412-595-7124
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SOURCE Mark Farrah Associates
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