In the United States, average employee premium contributions and deductibles as a percentage of median household income have risen in the past decade. In 2020, an employee’s total potential out-of-pocket medical costs (premium and deductible) amounted to 11.6 percent of median income. This included 6.9 percent in employee premium contributions and 4.7 percent in deductibles. However, states varied greatly in median income spent on premiums and deductibles, with workers in Mississippi having to spend on average 19 percent of their income on potential out-of-pocket medical costs.

Employer sponsored health insurance In 2020, over half of the U.S. population has some type of employment-based health insurance coverage. The Affordable Care Act penalizes large employers (with 50 or more full-time employees), if they do not provide health insurance to their employees. Nevertheless, of the uninsured aged under 65 years, the large majority worked either full or part-time (or someone in their household did).

Out-of-pocket medical costs Despite having insurance coverage, most plans have a deductible, the amount an insured must pay themselves that year before their insurance starts covering for them. The average annual deductible for single coverage amounted to roughly 1,700 U.S. dollars in 2021. Even after reaching their deductible, most insured have other forms of out-of-pocket health costs in the form of co-payments and co-insurance for health services or prescription drugs.

In 2023, the average total annual premium for employer-sponsored insurance (ESI) amounted to 23,938 U.S. dollars, while the employee's contribution was on average 6,889 U.S. dollars, while the employer made up the rest of the difference. However, the total annual premium for ESI ranged widely, from 20.5 thousand U.S. dollars in Arkansas to nearly 26 thousand U.S. dollars in New Jersey the same year. This statistic shows the average annual premiums for employer-sponsored family health insurance plans in the United States, by state, in 2023.

In 2023, employees in the agriculture/mining/construction industry paid an average of 21,509 U.S. dollars in annual health premiums for family coverage. This was the lowest value recorded of any industry, against an overall average of 23,968 U.S. dollars per year.

The largest health insurance companies in the U.S. include big names such as Kaiser Permanente, Elevance Health and UnitedHealthcare Group. As of 2024 the largest health insurance company in the U.S. was ***************** with approximately *** million members. However, UnitedHealthcare was the largest health insurance company in the U.S. by revenue. Elevance Health (Anthem) was the second largest at that time, with almost *** million members. Health insurance is an important part of the health care landscape in the U.S. and enrollment has been on the rise since the passing of the Affordable Care Act in 2010 by U.S. President Barack Obama. Health insurance in the U.S. The health insurance industry in the United States is a combination of both private and publicly funded schemes that provide a range of health services to individuals and families. The overall health care administration costs and net cost of private health insurance in the U.S. has increased rapidly since the early 2000s. In recent years, the U.S. has seen a rise in the cost of monthly health insurance premiums. In 2023, the average monthly health insurance premium in the individual market earned an insurer over *** U.S. dollars on average. Health care costs However, despite the combination of private and public funding, the U.S. health system has one of the highest per capita costs globally. The reason behind the increase and difference in health care costs in the U.S. is said to be a combination of doctors’ earnings, the cost of diagnostics and cost of health care administration and overhead. Compared to other developed countries such as France, Germany and Canada, the U.S. spends significantly more of it’s GDP on health care costs. As an example, the cost of a knee replacement surgery in the United States in 2022 was over ******times as expensive as the same surgery in Germany

Hybrid Life and Long-Term Care Insurance Market Outlook

According to our latest research, the global hybrid life and long-term care insurance market size reached USD 53.2 billion in 2024, reflecting robust growth driven by evolving consumer needs and demographic shifts. This market is projected to expand at a CAGR of 12.4% during the forecast period, reaching approximately USD 151.3 billion by 2033. The surge in demand is primarily attributed to the increasing aging population, rising healthcare costs, and growing awareness of integrated insurance solutions that combine life and long-term care benefits. The hybrid life and long-term care insurance market is witnessing significant traction as policyholders and insurers alike seek flexible and comprehensive financial protection solutions.

The primary growth driver for the hybrid life and long-term care insurance market is the demographic transformation characterized by a rapidly aging population, particularly in developed economies such as the United States, Japan, and parts of Europe. As life expectancy continues to rise, the need for long-term care services has become more pronounced, putting financial strain on individuals and families. Hybrid insurance products, which combine the death benefit of life insurance with the living benefits of long-term care coverage, offer a compelling value proposition. These products address the dual concerns of legacy planning and the increasing likelihood of requiring long-term care, making them attractive to consumers seeking comprehensive risk management. Furthermore, the flexibility of hybrid policies, which allow unused long-term care benefits to be passed on as a death benefit, has been a key factor in their rising popularity.

Another significant growth factor is the escalating cost of healthcare and long-term care services. With the average cost of assisted living and nursing home care continuing to outpace inflation, individuals are increasingly seeking insurance solutions that can help mitigate these financial risks. Hybrid life and long-term care insurance policies provide a hedge against these rising costs, enabling policyholders to access funds for care needs without depleting their savings or burdening family members. This financial security is particularly appealing to middle- and upper-income individuals who are planning for retirement and want to ensure their assets are protected. Additionally, regulatory changes and tax incentives in various countries have made it more attractive for insurers to develop and promote hybrid products, further fueling market growth.

Awareness and education about the benefits of hybrid life and long-term care insurance have also contributed to market expansion. Insurers, financial advisors, and industry associations have ramped up efforts to inform consumers about the risks associated with long-term care and the unique advantages of hybrid policies. Digital transformation in the insurance sector has played a pivotal role in this regard, as online platforms and tools have made it easier for consumers to compare products, understand policy features, and make informed decisions. The integration of advanced analytics and personalized marketing strategies has enabled insurers to target specific demographic segments more effectively, driving higher adoption rates. As a result, the hybrid life and long-term care insurance market is expected to witness continued innovation and product diversification in the coming years.

From a regional perspective, North America currently dominates the hybrid life and long-term care insurance market, accounting for the largest share in 2024. This leadership is underpinned by a mature insurance sector, high consumer awareness, and a significant elderly population. Europe follows closely, with countries like Germany, the UK, and France experiencing increased demand due to similar demographic trends. The Asia Pacific region, although still emerging, is poised for rapid growth as aging populations in countries like Japan and China drive the need for comprehensive insurance solutions. Latin America and the Middle East & Africa are gradually catching up, supported by improving economic conditions and evolving regulatory frameworks. Overall, the global outlook for the hybrid life and long-term care insurance market remains highly positive, with ample opportunities for expansion and innovation across all regions.

Product Type Analysis

The hybrid life and long-term care ins

According to Cognitive Market Research, the global Pet Insurance market size was USD 12542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 15.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 5016.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3762.6 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2884.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 627.1 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 250.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2031.
The Accident and Illness Policy Coverage category is the fastest growing segment of the Pet Insurance industry

Market Dynamics of Pet Insurance Market

Key Drivers for Pet Insurance Market

Increasing Pet Ownership and Humanization of Pets to Boost Market Growth: More households globally are adopting pets, leading to a growing demand for pet insurance. As pets become cherished members of families, the willingness to invest in their care increases. According to NAPHIA's?2024 State of the Industry Report, the U.S. pet insurance market reached a total premium volume of $3.9 billion in 2023. By the end of 2023, nearly 5.7 million pets in the U.S. were insured, marking a 17% increase from 2022. The average annual premium for accident and illness coverage was $676 for dogs ($56 per month) and $383 for cats ($32 per month). The majority of insured pets were located in California, New York, and Florida, with dogs comprising 80% of insured pets, compared to 20% for cats. The growing trend of treating pets as family members is driving owners to seek better healthcare and insurance options, with many willing to invest in advanced treatments, surgeries, and long-term care, which are made more affordable through insurance coverage.

Rising Veterinary Costs to Drive Market Growth: Modern veterinary medicine offers a variety of advanced treatments, including surgeries and cancer therapies, which can be costly. According to the U.S. Bureau of Labor Statistics, the cost of veterinary services increased by 7.6% between May 2023 and May 2024, following a 10% rise in 2022, the largest increase in two decades. With the rising global costs of routine and emergency veterinary care, pet insurance provides a financial safety net, allowing owners to afford these treatments while minimizing high out-of-pocket expenses. This makes pet insurance an appealing option for many pet owners.

Key Restraints for Pet Insurance Market

High Cost of Pet Insurance Services Will Limit Market Growth: One of the most common reasons for low uptake is the high cost of pet insurance premiums. For some pet owners, particularly those with multiple pets, the cost of insuring their animals can be prohibitively expensive, discouraging them from purchasing a policy. In many developing regions, pet insurance is seen as a luxury product. Due to lower disposable incomes, pet owners in these areas may prioritize basic pet care needs over the additional insurance cost, limiting the market’s potential in such areas. The pet insurance market lacks a standardized structure for policy coverage. Policies vary widely between providers in terms of what is covered, reimbursement rates, and claim limits. This inconsistency makes it difficult for consumers to compare policies and choose the most suitable option, which can discourage adoption.

Key Trends for Pet Insurance Market

Expansion of Tailored and Health-Oriented Plans: Insurance providers are launching adaptable policies that enable pet owners to select coverage according to their pet's requirements, featuring additional options for dental care, vaccinations, and preventive measures. Wellness plans are becoming increasingly favored as they promote routine veterinary visits, enhancing overall pet health and lowering long-term expenses.

Imp...

In 2022, the median employee annual contribution for family coverage amounted to ****** U.S. dollars in a preferred provider organization (PPO) and ***** U.S. dollars in high-deductible health plans (HDHP). Overall, the median annual employee contribution for any type of health coverage was lower in high-deductible health plans in comparison to other health plans.

The National Survey of America's Families (NSAF) is a household survey that provides a comprehensive look at quantitative measures of the well-being of children, adults, and their families. While the focus of the survey is at the state level, the scope is national -- with a primary emphasis on low-income families. NSAF information was gathered from interviews conducted with the Most Knowledgeable Adult (MKA), the person in the household who was most knowledgeable about the questions being asked about the respondent, their spouse/partner (if applicable) and the focal child (or children). Data were collected from more than 40,000 families in two stages. First, a screener interview was administered to determine whether a household was eligible to complete the second, extended interview. Two types of extended interviews were administered. Option A interviews were used in households with children under age 18. Option B interviews were used in childless adult households and also with emancipated minors. The extended interview was divided into several sections and is labeled A through P below:

A. Student Status. This section contained two questions that asked whether the respondent was a student and whether that household was the respondent's usual residence. B. Health Status and Satisfaction. These questions asked about the respondent's satisfaction with health care, access to health care, the health status of the focal children, and the health status of the respondent. C. Parent/Child/Family Interaction and Education. This series of questions asked about education for focal children. Questions addressed the focal child's current grade (or the last grade completed) and the child's attitudes toward school and schoolwork, skipping school, suspensions, and changing schools. Questions were also asked about children over 11 years old working for pay and attending summer school. D. Household Roster. In this section, the name, age, and sex of all persons living in the household were recorded, and relationships between all household members were investigated. E. Health Care Coverage. Information was gathered about current health insurance coverage for the respondent, the respondent's spouse/partner, and the focal children. Questions were also asked about characteristics of that coverage and of periods in which family members had no insurance coverage. F. Health Care Use and Access. This section gathered information about health status, health care services received, and necessary health care services that were postponed during the preceding 12 months. Questions on routine care, overnight stays in hospitals, dental care, mental health care, women's health care, well-child care, and prescription medicines were also included. G. Child Care. In this section, respondents were queried as to child care arrangements including Head Start, child care centers, before- or after-school care, and babysitters. Questions were asked about the total number of hours per week in each care situation, the typical number of children cared for, the typical number of adult child care providers, and child care costs. H. Nonresidential Parent/Father. These questions determined whether a focal child had a nonresident parent, how often the child saw his/her nonresident parent, whether the nonresident parent provided financial support, and whether nonresident parents were required by child support orders to provide financial support. I. Employment and Earnings. This section contained a series of questions about the employment and earnings of the respondent and the spouse/partnerfor the current and preceding year. Topics included employment status, occupation, industry, employer-provided health insurance, hours worked, and earnings. Some questions were also asked about the earnings of other family members. J. Family Income. Family income also was identified from a wide variety of sources other than earnings from employment. These sources included public assistance (e.g., Aid to Families with Dependent Children [AFDC], General Assistance, Emergency Assistance, or vouchers), Food Stamps, child support, foster care payments, financial assistance from friends or relatives, unemployment compensation, workers' compensation or veterans' payments, Supplemental Security Income, Social Security, pe

The Los Angeles County Climate Vulnerability Assessment identified and incorporated 29 social vulnerability indicators. These indicators are listed below alongside their description and data source. Full report: https://ceo.lacounty.gov/cva-report/Note: All indicators are at the census tract level. Census tracts with no population (data) are omitted from this layer. Indicator Description Source Countywide Average

Asian Percent identifying as non-Hispanic Asian US Census Bureau, American Community Survey 2018 5-Year Estimates 14.4%

Asthma Age-adjusted rate of emergency department visits for asthma California Environmental Health Tracking Program (CEHTP) and Office of Statewide Health Planning and Development (OSHPD) 52.2

Black Percent identifying as non-Hispanic black or African American US Census Bureau, American Community Survey 2018 5-Year Estimates 7.9%

Cardiovascular Age-adjusted rate of emergency department visits for heart attacks per 10,000 California Environmental Health Tracking Program (CEHTP) and Office of Statewide Health Planning and Development (OSHPD) 8.4

Children Percent of people 18 and under US Census Bureau, American Community Survey 2018 5-Year Estimates 24.9%

Disability Percent of persons with either mental or physical disability US Census Bureau, American Community Survey 2018 5-Year Estimates 9.9%

Female Percent female US Census Bureau, American Community Survey 2018 5-Year Estimates 50.7%

Female householder Percent of households that have a female householder with no spouse present US Census Bureau, American Community Survey 2018 5-Year Estimates 16.2%

Foreign born Percent of the total population who was not born in the United States or Puerto Rico US Census Bureau, American Community Survey 2018 5-Year Estimates 35.2%

Hispanic Latinx Percent identifying as Hispanic or Latino US Census Bureau, American Community Survey 2018 5-Year Estimates 48.5%

Households without vehicle access Percent of households without access to a personal vehicle US Census Bureau, American Community Survey 2018 5-Year Estimates 8.8%

Library access Each tract's average block distance to nearest library LA County Internal Services Department 1.14 miles

Limited English Percent limited English speaking households US Census Bureau, American Community Survey 2018 5-Year Estimates 13.6%

Living in group quarters Percent of persons living in (either institutionalized or uninstitiutionalized) group quarters US Census Bureau, American Community Survey 2018 5-Year Estimates 1.8%

Median income Median household income of census tract US Census Bureau, American Community Survey 2018 5-Year Estimates $69,623

Mobile homes Percent of occupied housing units that are mobile homes US Census Bureau, American Community Survey 2018 5-Year Estimates 1.8%

No health insurance Percent of persons without health insurance US Census Bureau, American Community Survey 2018 5-Year Estimates 0.2%

No high school diploma Percent of persons 25 and older without a high school diploma US Census Bureau, American Community Survey 2018 5-Year Estimates 10.8%

No internet subscription Percent of the population without an internet subscription US Census Bureau, American Community Survey 2018 5-Year Estimates 22.6%

Older adults Percent of people 65 and older US Census Bureau, American Community Survey 2018 5-Year Estimates 18.4%

Older adults living alone Percent of households in which the householder is 65 and over who and living alone US Census Bureau, American Community Survey 2018 5-Year Estimates 12.9%

Outdoor workers Percentage of outdoor workers - agriculture, fishing, mining, extractive, construction occupations US Census Bureau, American Community Survey 2018 5-Year Estimates 8.0%

Poverty Percent of the population living in a family earning below 100% of the federal poverty threshold US Census Bureau, American Community Survey 2018 5-Year Estimates 5.4%

Rent burden Percent of renters paying more than 30 percent of their monthly income on rent and utilities US Census Bureau, American Community Survey 2018 5-Year Estimates 16.1%

Renters Percentage of renters per census tract US Census Bureau, American Community Survey 2018 5-Year Estimates 54.3%

Transit access Percent of population residing within a ½ mile of a major transit stop Healthy Places Index, SCAG 52.8%

Tribal and Indigenous Percent identifying as non-Hispanic American Indian and Alaska native US Census Bureau, American Community Survey 2018 5-Year Estimates 54.9%

Unemployed Percent of the population over the age of 16 that is unemployed and eligible for the labor force US Census Bureau, American Community Survey 2018 5-Year Estimates 6.9%

Voter turnout rate Percentage of registered voters voting in the 2016 general election CA Statewide General Elections Database 2016 63.8%

In 2022, the median annual gross cost per employee for family coverage amounted to ****** U.S. dollars in a preferred provider organization (PPO) and ****** U.S. dollars in high-deductible health plans (HDHP). Overall, the median annual gross cost per employee for any type of health coverage was lower in high-deductible health plans in comparison to other health plans.

The real per capita spending on healthcare in Singapore was forecast to continuously increase between 2024 and 2029 by in total ***** U.S. dollars (+***** percent). After the ***** consecutive increasing year, the real healthcare-related per capita spending is estimated to reach ******** U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case healthcare-related spending per capita, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group **. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data has been converted from local currencies to US$ using the average constant exchange rate of the base year 2017. The timelines therefore do not incorporate currency effects. The data is shown in real terms which means that monetary data is valued at constant prices of a given base year (in this case: 2017). To attain constant prices the nominal forecast has been deflated with the projected consumer price index for the respective category.Find more key insights for the real per capita spending on healthcare in countries like Vietnam and Myanmar.