Mark Farrah Associates Assessed a New Source of State-Level Accident and Health Insurance Data for 2022

MCMURRAY, Pa.--(BUSINESS WIRE)--Mark Farrah Associates (MFA), www.markfarrah.com, examined a new source of state-level Accident and Health (A&H) insurance data for 2022, which is now available in Mark Farrah Associates’ (MFA) Health Coverage Portal™. The A&H insurance market is expansive, and the new data source contains premiums, claims, lives, member months, and number of policies for multiple accident and health insurance segments. For its latest business strategy report, MFA presents key findings from its analysis of 2022 A&H products by category, based on an analysis of the National Association of Insurance Commissioners’ (NAIC) revised Accident and Health Policy Experience Exhibit (AHPEE), including enrollment, premiums, claims and loss ratios for Government, Major Medical, Non-Comprehensive Medical, and Ancillary products.

“New Source of State-Level Accident and Health Insurance Data for the Broader Insurance Industry”

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Some key points include:

• Government programs, such as Medicare Advantage, Medicare Part D (PDP), Medicare Supplement, Medicaid, and State Children’s Health Insurance Programs (S-CHIP), account for the largest share of premium dollars, at nearly $709.8 billion, in 2022.

• Highly regulated Government programs and comprehensive Major Medical coverage, comprised of the Federal Employer Health Benefits Program (FEHBP), Group, and Individual segments, have the highest medical loss ratios.

• Non-comprehensive (Non-Comp) medical, a broad category with nearly 471 million enrolled, is among the most profitable A&H categories with a loss ratio of 68%.

• Ancillary plans, including dental and vision coverage, have a higher loss ratio than Non-Comp medical, but premiums also average $17 per member per month.

To read the full text of "New Source of State-Level Accident and Health Insurance Data for the Broader Insurance Industry” visit the MFA Briefs library on Mark Farrah Associates' website. MFA will continue to provide and simplify access to data across the broader Accident and Health industry.

About Mark Farrah Associates (MFA)

MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. Follow us on LinkedIn!