Medicare for All, a healthcare system operated by the government, has been gaining traction recently on both ends of the political spectrum. And that raises the prospect that such a system will become a reality one day. A government run health system could end the party for health care insurers. They would be a shell of their former selves. This would be devastating to their share prices.
Health care providers are looking to scale—in a variety of forms—to meet evolving market demands and regulatory pressures.
However, health insurance consolidation is just one of many market forces pushing health care providers to consolidate. And smaller health insurance providers, rather than shrinking or fading away, have gained market share in some states. The big unknown is whether—or to what extent—health insurance concentration will reinforce or work against the efforts of medical providers to rein in rising health care costs.
The concentration of health plan providers is pretty well documented. According to a study by the Government Accountability Office GAOthe three largest insurers in any state had at least 80 percent of the total commercial enrollment in 37 states, and they did so across all market segments individual, small group and large group plans.
In the Ninth District, Wisconsin was the only state below those thresholds see chart.
Top 25 Health Insurance Companies in US. While being a large insurers does not necessarily mean they provide the best health insurance, it is. McKesson Corporation, the world's biggest healthcare company by revenue, to acquire healthcare benefits company Aetna for $69bn. There are six of these biggest health insurance companies: WellPoint, CIGNA, Aetna, Humana, United Healthcare, and BlueCross BlueShield, although the latter works on a state-by-state basis. The five biggest health insurance companies insure approximately half of the insured.
For example, other district states have at most 12 companies offering plans for small and large groups; Wisconsin has more than two dozen in each market segment. Health insurance concentration is not a particularly recent phenomenon, and in some states health insurance is dominated by a single insurer.
Bytotal premiums had doubled, and Noridian upped its market share to almost 97 percent. Matt Anderson, senior vice president of policy and strategy with the Minnesota Hospital Association, said that health insurance plans are using big data to better understand cost and utilization trends, helping insurers to put pressure on providers to accept lower reimbursement rates.
For years, there has been the "Big Five" of health insurance companies, but a change to the "Big Three" of Anthem-Cigna, UnitedHealth Group. America has many, many health insurance companies operating on the market today. Here are the ten biggest by market value. Best? Not necessarily. But these health insurers have the biggest market share. #3, Wellpoint Inc. Group. #4, Aetna Group. #5, Humana.
At the same time, the role of health insurance concentration in fostering provider consolidation might be more muted than a cursory debate suggests. Notably, there are at least modest signs of change in Ninth District insurance markets. InSanford Health won the contract to provide health care coverage for 29, state and local workers in North Dakota, starting in July.
Blue Cross Blue Shield had held the contract for 37 years, according to local reports. In South Dakota, the share of total premiums written by the top three health plans in the state was 84 percent or higher from toaccording to figures from the South Dakota Division of Insurance.
The current top five health insurance payers in continue to hold the largest a financial boon for the top five giants of the health insurance payer industry. pushed revenues and membership for the 'Big Five' to year after year gains. 3. Aetna. Net Revenues: $B. Subscribers: million. That's why shares of big healthcare insurers soared under the Obama Administration—see table. Source: oldseaportinn.com 3/9/ Here are the eight health insurers with the most members and revenue in 3. Aetna Membership: million. Revenue: $ billion 4. Cigna.
But that share has declined every year since, dropping to 70 percent in Inthere were only five companies with at least a 3 percent market share in the state; bythat number had grown to eight.
Some of this diversification might be flowing from new insurance exchanges established by the Affordable Care Act. In the market for individual coverage, for example, Wellmark saw its leading market share drop from 83 percent to 67 percent over this period.
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