Let’s talk about health insurance!
It’s a crucial part of the American healthcare system, providing financial protection and access to medical services for millions of people.
And guess what?
There are some pretty fascinating statistics out there that can give us insight into the current state of health insurance.
From the percentage of Americans who have coverage to how consumers are behaving when choosing plans, there’s a lot to unpack.
So, get ready to be amazed as we curate and summarize some of the latest and most interesting health insurance statistics.
In 2021, approximately 91% of Americans had health insurance coverage, either through their employer, Medicaid, Medicare, or individual market plans. (Kaiser Family Foundation, “Health Insurance Coverage of the Total Population,” 2021)
The number of uninsured Americans decreased from 27.9 million in 2018 to 26 million in 2019, but increased to 28 million in 2020 due to the COVID-19 pandemic. (Centers for Medicare and Medicaid Services, “National Health Expenditure Data,” 2020)
In 2021, the average annual premium for employer-sponsored family health insurance was $21,342, with employees paying an average of $5,884 and employers paying an average of $15,457. (Kaiser Family Foundation, “2021 Employer Health Benefits Survey,” 2021)
About 14.8 million people were enrolled in individual market plans in 2020, with an average monthly premium of $612. (Centers for Medicare and Medicaid Services, “2020 Health Insurance Exchanges Issuer Landscape,” 2020)
In 2021, Medicaid provided health coverage to approximately 73 million low-income Americans, while Medicare provided coverage to approximately 63 million elderly and disabled individuals. (Kaiser Family Foundation, “The Medicaid Program at a Glance,” 2021; Centers for Medicare and Medicaid Services, “Medicare Enrollment Dashboard,” 2021)
More consumers are choosing high-deductible health plans (HDHPs) over traditional plans. In 2020, 30% of workers enrolled in employer-sponsored health plans were enrolled in an HDHP with a savings option, up from 4% in 2006. (Kaiser Family Foundation, “2020 Employer Health Benefits Survey,” 2020)
Consumers are increasingly using online tools to shop for and compare health insurance plans. In 2021, 50% of consumers used an online tool or website to compare health insurance plans, up from 38% in 2017. (Deloitte, “2021 Health Care Consumer Survey,” 2021)
Consumers are becoming more price-sensitive when choosing health care services. In 2020, 71% of consumers said they would research the cost of health care services before receiving care, up from 53% in 2017. (Deloitte, “2020 Health Care Consumer Survey,” 2020)
The COVID-19 pandemic has increased consumers’ interest in telehealth services. In 2020, 80% of consumers said they were more likely to use telehealth services due to the pandemic, and 60% said they would continue to use them after the pandemic ends. (Deloitte, “2020 Health Care Consumer Survey,” 2020)
Consumers are becoming more interested in wellness programs and incentives. In 2020, 62% of consumers said they would participate in a wellness program if their health plan offered one, and 67% said they would participate if they received a financial incentive. (Deloitte, “2020 Health Care Consumer Survey,” 2020)
The global health insurance market size was valued at $4.4 trillion in 2020 and is expected to grow at a CAGR of 4.4% from 2021 to 2028. (Grand View Research, “Health Insurance Market Size, Share & Trends Analysis Report By Service Provider, By Type, By Demographics, By Provider Type, By Network Type, By Region, And Segment Forecasts, 2021 – 2028”)
In 2019, the United States had the highest per capita health insurance expenditure among OECD countries at $11,072, followed by Switzerland at $7,315. (OECD, “Health at a Glance 2021: OECD Indicators”)
In some countries, such as Germany, Japan, and the Netherlands, health insurance is mandatory for all citizens and residents. In other countries, such as the United States, health insurance is not mandatory but is strongly encouraged.
Telehealth services are becoming more widely available and popular in many countries, particularly in response to the COVID-19 pandemic.
For example, in the United Kingdom, the number of telehealth consultations increased from 350,000 per week in February 2020 to 1.6 million per week in April 2020. (National Health Service, “COVID-19 digital-first primary care: secondary use of data,” 2021)
In some countries, such as Canada and the United Kingdom, healthcare is provided by the government and is funded through taxes.
In other countries, such as the United States, healthcare is primarily provided by the private sector and is funded through a combination of private insurance and government programs like Medicare and Medicaid.
Inferences from Health Insurance trends
- High-deductible health plans (HDHPs) are becoming more popular, indicating that consumers are willing to pay higher out-of-pocket costs in exchange for lower premiums.
- The availability of online tools and resources is empowering consumers to make more informed decisions when it comes to choosing health insurance plans.
- Price transparency is increasingly important to consumers, who are taking the time to research the cost of health care services before receiving care.
- The COVID-19 pandemic has accelerated the adoption of telehealth services, and it is likely that they will continue to be a popular option for patients even after the pandemic ends.
- Wellness programs and incentives are an effective way to encourage consumers to take an active role in managing their health and reducing healthcare costs.
Overall, these statistics paint a picture of a changing healthcare landscape, with consumers becoming more empowered and engaged in their own healthcare decisions.
With the right tools and information at their fingertips, consumers can make informed choices that lead to better health outcomes and more affordable care.
Sources
Kaiser Family Foundation. (2020). 2020 Employer Health Benefits Survey. https://www.kff.org/report-section/ehbs-2020-summary-of-findings/
Deloitte. (2021). 2021 Health Care Consumer Survey. https://www2.deloitte.com/us/en/insights/industry/health-care/health-care-consumer-survey.html
Deloitte. (2020). 2020 Health Care Consumer Survey. https://www2.deloitte.com/us/en/insights/industry/health-care/health-care-consumer-survey.html
Kaiser Family Foundation. (2021). Health Insurance Coverage of the Total Population. https://www.kff.org/other/state-indicator/total-population/?currentTimeframe=0&sortModel=%7B%22colId%22:%22Location%22,%22sort%22:%22asc%22%7D
Centers for Medicare and Medicaid Services. (2020). National Health Expenditure Data. https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData
Kaiser Family Foundation. (2021). 2021 Employer Health Benefits Survey. https://www.kff.org/report-section/ehbs-2021-section-1-cost-of-health-insurance/
Centers for Medicare and Medicaid Services. (2020). 2020 Health Insurance Exchanges Issuer Landscape. https://www.cms.gov/CCIIO/Resources/Data-Resources/Downloads/2020-QHP-Issuer-Landscape-Data-Tables.zip
Kaiser Family Foundation. (2021). The Medicaid Program at a Glance. https://www.kff.org/medicaid/state-indicator/medicaid-enrollment/?currentTimeframe=0&sortModel=%7B%22colId%22:%22Location%22,%22sort%22:%22asc%22%7D
Centers for Medicare and Medicaid Services. (2021). Medicare Enrollment Dashboard. https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/Dashboard/Medicare-Enrollment-Dashboard
Grand View Research, “Health Insurance Market Size, Share & Trends Analysis Report By Service Provider, By Type, By Demographics, By Provider Type, By Network Type, By Region, And Segment Forecasts, 2021 – 2028”: https://www.grandviewresearch.com/industry-analysis/health-insurance-market
OECD, “Health at a Glance 2021: OECD Indicators”: https://www.oecd-ilibrary.org/social-issues-migration-health/health-at-a-glance-2021_0e8f7b5a-en
National Health Service, “COVID-19 digital-first primary care: secondary use of data,” 2021: https://www.england.nhs.uk/coronavirus/wp-content/uploads/sites/52/2021/02/C0385-COVID-19-Digital-first-primary-care-Second-Use-of-Data-FINAL.pdf
