In 2023, single coverage health insurance for employees cost more than ***** U.S. dollars for the year. this figure has increase every year since 2000, with the average annual cost of health insurance for singles being ***** in 2000.

In 2023, family coverage insurance for fully insured employees cost on average 23,539 U.S. dollars, whereas employees who funded their own health insurance paid 24,216 U.S. dollars. Both these figures have increased every year since 2000, with the values being 6,315 and 6,430 U.S. dollars respectively in 2000.

In the United States, the annual price of health insurance declined by 33.6 percent in the last 12 months which ended in August 2023 after rising by 24.3 percent in the previous year. Over the provided time interval, health insurance prices increased at an average inflation rate of approximately five percent. This statistic shows the annual inflation rate of health insurance prices in the U.S. from 2007 to 2023.

United States Health Insurance: Premium Per Member Per Month data was reported at 364.000 USD in Sep 2024. This stayed constant from the previous number of 364.000 USD for Jun 2024. United States Health Insurance: Premium Per Member Per Month data is updated quarterly, averaging 262.000 USD from Mar 2012 (Median) to Sep 2024, with 51 observations. The data reached an all-time high of 364.000 USD in Sep 2024 and a record low of 178.000 USD in Sep 2013. United States Health Insurance: Premium Per Member Per Month data remains active status in CEIC and is reported by National Association of Insurance Commissioners. The data is categorized under Global Database’s United States – Table US.RG017: Health Insurance: Industry Financial Snapshots.

Graph and download economic data for Producer Price Index by Industry: Direct Health and Medical Insurance Carriers: Indemnity Health Insurance Plans (PCU5241145241142) from Dec 2002 to May 2025 about medical, health, insurance, PPI, industry, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Industry: Direct Health and Medical Insurance Carriers: Dental Service Plans (PCU52411452411410301) from Dec 2000 to May 2025 about dental, medical, health, insurance, services, PPI, industry, inflation, price index, indexes, price, and USA.

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.

Total insurance premium income statistics for health insurance in the property and casualty insurance market in the last five years (Insurance Regulatory and Development Authority of India)

Insurance Premium: Year to Date: Health: Tianjin data was reported at 2,466.000 RMB mn in Feb 2025. This records an increase from the previous number of 1,527.000 RMB mn for Jan 2025. Insurance Premium: Year to Date: Health: Tianjin data is updated monthly, averaging 1,547.000 RMB mn from Jan 2006 (Median) to Feb 2025, with 230 observations. The data reached an all-time high of 11,994.000 RMB mn in Dec 2024 and a record low of 64.881 RMB mn in Jan 2006. Insurance Premium: Year to Date: Health: Tianjin data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under Global Database’s China – Table CN.RGD: Insurance Premium: Monthly Summary by Region: Health Insurance.

China Insurance Premium: Year to Date: Health: Group data was reported at 228.000 RMB mn in Dec 2024. This records a decrease from the previous number of 236.000 RMB mn for Nov 2024. China Insurance Premium: Year to Date: Health: Group data is updated monthly, averaging 18.152 RMB mn from Jan 2006 (Median) to Dec 2024, with 219 observations. The data reached an all-time high of 1,733.000 RMB mn in Sep 2023 and a record low of 0.054 RMB mn in Jan 2007. China Insurance Premium: Year to Date: Health: Group data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under Global Database’s China – Table CN.RGD: Insurance Premium: Monthly Summary by Region: Health Insurance.

Life And Health Insurance Market Outlook

In 2023, the global market size for life and health insurance was valued at approximately USD 4.9 trillion and is anticipated to reach around USD 9.2 trillion by 2032, growing at a compound annual growth rate (CAGR) of 7.2% during the forecast period. The growth of this market is primarily driven by increasing awareness about the necessity of insurance, rising healthcare costs, and an aging global population.

One of the major growth factors for the life and health insurance market is the rising global awareness regarding the importance of insurance coverage. With increasing education and access to information, more individuals understand the financial protection and benefits that life and health insurance provide. Governments and private organizations are also running multiple awareness campaigns to educate the masses about the significance of insurance, which is boosting market growth. Additionally, the legislative push in many countries to make health insurance mandatory is creating a substantial market demand.

Another critical driver for this market is the escalating cost of healthcare. As medical treatments become more advanced and specialized, the associated costs have significantly increased, making it almost imperative for individuals to have health insurance to cover these expenses. This trend is particularly noticeable in developed nations where healthcare costs are skyrocketing. Consequently, people are increasingly purchasing health insurance policies to protect themselves from financial distress in case of medical emergencies.

The aging global population is another significant factor pushing the demand for life and health insurance. With advancements in healthcare, global life expectancy has increased, resulting in a larger elderly population. This demographic shift is creating a substantial need for both life and health insurance products. Older individuals are more prone to health issues, making health insurance a critical necessity for them. Moreover, life insurance policies are gaining traction as people look to ensure financial security for their dependents after their demise.

In addition to life and health insurance, the broader spectrum of Life and Non-Life Insurance plays a crucial role in providing comprehensive coverage to individuals and businesses. While life insurance focuses on providing financial security to beneficiaries in the event of the policyholder's death, non-life insurance encompasses a range of products such as property, casualty, and liability insurance. These products protect against various risks, including natural disasters, accidents, and legal liabilities, ensuring that both individuals and businesses can safeguard their assets and maintain financial stability in the face of unforeseen events. The integration of life and non-life insurance products allows for a holistic approach to risk management, catering to diverse needs and preferences across different sectors.

Regionally, North America remains a dominant player in the life and health insurance market due to its well-established healthcare infrastructure and high awareness levels among its population. The Asia Pacific region is emerging as a lucrative market owing to the rapid economic development, increasing middle-class population, and growing awareness regarding the significance of insurance. Europe, Latin America, and the Middle East & Africa are also showing promising growth trends driven by various regional factors.

Type Analysis

The life and health insurance market is segmented by type into term life insurance, whole life insurance, universal life insurance, health insurance, and others. Term life insurance is particularly popular due to its straightforward nature and lower premiums compared to permanent life insurance products. These policies provide coverage for a specified term, usually 10, 20, or 30 years, making them an affordable option for many. The simplicity and lower cost of term life insurance are significant factors contributing to its widespread adoption.

Whole life insurance, on the other hand, offers life-long coverage and includes a savings component known as cash value. This type of insurance is gaining popularity among individuals who are looking for a combination of protection and investment. The cash value component grows over time and can be borrowed against, providing policyholders with a financial cushion. Universal

China Insurance Premium: Year to Date: LI: PICC Health Insurance Co Ltd data was reported at 35,815.970 RMB mn in Dec 2021. This records an increase from the previous number of 32,257.380 RMB mn for Dec 2020. China Insurance Premium: Year to Date: LI: PICC Health Insurance Co Ltd data is updated monthly, averaging 5,948.777 RMB mn from May 2005 (Median) to Dec 2021, with 167 observations. The data reached an all-time high of 35,815.970 RMB mn in Dec 2021 and a record low of 0.747 RMB mn in Jun 2005. China Insurance Premium: Year to Date: LI: PICC Health Insurance Co Ltd data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under Global Database’s China – Table CN.RGD: Insurance Premium: Monthly Summary by Company: Life Insurance. NAFR(CBIRC) no longer publishes monthly insurance company data.

China Insurance Premium: Year to Date: LI: Kunlun Health Insurance Co Ltd data was reported at 4,854.560 RMB mn in Dec 2021. This records a decrease from the previous number of 8,415.190 RMB mn for Dec 2020. China Insurance Premium: Year to Date: LI: Kunlun Health Insurance Co Ltd data is updated monthly, averaging 80.881 RMB mn from May 2007 (Median) to Dec 2021, with 143 observations. The data reached an all-time high of 8,415.190 RMB mn in Dec 2020 and a record low of 0.011 RMB mn in May 2007. China Insurance Premium: Year to Date: LI: Kunlun Health Insurance Co Ltd data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under China Premium Database’s Insurance Sector – Table CN.RGD: Insurance Premium: Monthly Summary by Company: Life Insurance. NAFR(CBIRC) no longer publishes monthly insurance company data.

This data package contains the information of Medicare and Medicaid healthcare spending and healthcare cost and percentages by state.

According to Cognitive Market Research, the Global Health Insurance Exchange market size is USD 1609 million in 2024 and will expand at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031. Market Dynamics of Health Insurance Exchange Market

Key Drivers for Health Insurance Exchange Market

Increasing Prevalence of Chronic Lifestyle Diseases to Boost Market Growth 

The growing incidence of chronic lifestyle diseases such as diabetes, hypertension, and obesity is a major driver for the health insurance exchange market. As more individuals require long-term medical care and frequent health monitoring, there is a heightened demand for accessible, affordable, and transparent health insurance solutions. Health insurance exchanges simplify the enrolment process and allow consumers to compare plans, encouraging greater participation and coverage. This shift is pushing both insurers and governments to adopt digital platforms that streamline plan selection and claims management, making exchanges a vital tool in addressing the healthcare needs of a chronically ill population. For instance, in April 2024, a report highlighted that 45% of Indians were categorized as ‘unhealthy’ in 2023, with a high prevalence of chronic diseases, reinforcing the urgent need for improved health coverage platforms like health insurance exchanges. (Source:https://economictimes.indiatimes.com/news/india/45-of-indians-unhealthy-in-2023-goqii-india-fit-report/articleshow/109131034.cms?)

Growing Geriatric Population to Drive Market Growth 

The global increase in the geriatric population is driving demand for health insurance exchange platforms. With aging populations across regions, particularly in developed nations, there is an urgent need for affordable and accessible health coverage. Health insurance exchanges allow elderly individuals to compare and select the best insurance options tailored to their needs, offering transparency and ease of access. As a result, insurers and governments are adapting their offerings to accommodate the growing number of senior citizens, providing more inclusive coverage to address the unique health challenges associated with aging. For instance, in April 2024, the Insurance Regulatory and Development Authority of India (IRDAI) removed the age limit of 65 years for purchasing health insurance policies, aiming to broaden coverage and enhance financial security against healthcare expenses for senior citizens. (Source:https://www.indiatvnews.com/business/news/health-insurance-policies-irdai-demographics-ayush-policyholders-healthcare-ecosystem-aids-ailments-cancer-heart-renal-failure-2024-04-22-927402?)

Key Restraints for Health Insurance Exchange Market

High Health Insurance Premium Cost to Hamper Market Growth 

The rising cost of health insurance premiums is a significant challenge to market growth. Premiums have been increasing due to factors such as rising medical inflation, higher frequency of claims, and greater coverage options. These price hikes often lead to affordability issues for consumers, causing some individuals to downgrade their policies or even forgo coverage altogether. This trend not only impacts policyholder retention but also slows the acquisition of new policies. To address this, there is a growing need for more affordable options and innovative solutions to enhance accessibility and reduce premium costs for consumers. For instance, in July 2024, New India Assurance increased premiums on certain health insurance products by 10% to align with regulatory changes and anticipated higher claims, impacting policyholder affordability. (Source:https://www.business-standard.com/finance/insurance/new-india-assurance-increases-premiums-on-health-insurance-by-10-124073001522_1.html?)

Key Trends for Health Insurance Exchange Market

Advancements in Healthcare Technology to Create Opportunities in the Market 

Advancements in healthcare technology are significantly transforming the industry, creating numerous opportunities for market growth. The integration of artificial intelligence (AI) and machine learning (ML) into diagnostics and treatment planning is enhancing the accuracy and efficiency of medical services. Remote patient monitoring (RPM) systems enable continuous health tracking, allowing for timely interventions and reducing hospital readmissions. Wearable...

This dataset contains detailed demographic and health-related information for individuals alongside their corresponding medical insurance charges. It includes features such as age, sex, BMI, number of children, smoking status, region, and total insurance cost. This dataset is covered from the USA.

The dataset is ideal for building and evaluating machine learning models that predict healthcare costs based on personal and lifestyle factors.

Dataset Features

1. age: Age of the individual in years.

2. sex: Biological sex of the individual (male or female).

3. BMI: Body Mass Index — the numeric measure of body fat based on height and weight.

4. children: Number of dependent children covered by the insurance plan.

5. smoker: Smoking status of the individual (yes or no).

6. region: Geographic region of the individual within the United States (northeast, northwest, southeast, or southwest).

7. charges: Individual medical insurance cost billed by the insurer.

Distribution

• Format: CSV (Comma-Separated Values)

• Data Volume: Rows: 1,338 records

• 7 Columns: age, sex, BMI, children, smoker, region, charges

• File Size: Approximately 56 KB

Usage

This dataset is ideal for a variety of applications:

Medical Cost Prediction: Train regression models to estimate insurance charges based on demographic and lifestyle factors

Health Economics Research: Analyze how factors like smoking, BMI, and age impact healthcare costs.

Geographic Coverage:

• United States: the dataset includes individuals from four regions: northeast, northwest, southeast, and southwest.

• Time Range: The exact dates of data collection are not specified, but the data reflects typical insurance and demographic patterns observed in recent years.

• Demographics: Includes a diverse range of individuals: Age Range: From 18 to 64 years old Gender: Male and female Lifestyle Factors: Smoking status and BMI Dependents: Number of children covered by the insurance

License

CC0

Who Can Use It

• Data Scientists: For training machine learning models.
• Researchers: For academic or scientific studies.
• Businesses: For analysis, insights, or AI development.

Graph and download economic data for Health Insurance Coverage: Coverage Rate in Nevada (DISCONTINUED) (NVHICCOVPCT) from 1999 to 2012 about coverage rate, NV, health, insurance, rate, and USA.

Average annual deductibles for employer-sponsored health insurance plans in the United States have increased from 2010 to 2023. In 2010, the average deductible cost for an individual was 917 U.S. dollars. By 2023, this had increased to 1,735 U.S. dollars.

Health Insurance Premiums on Policies Written in New York Annually

Insurance Premium: Year to Date: Health: Zhejiang data was reported at 13,724.000 RMB mn in Feb 2025. This records an increase from the previous number of 5,715.000 RMB mn for Jan 2025. Insurance Premium: Year to Date: Health: Zhejiang data is updated monthly, averaging 4,500.370 RMB mn from Jan 2006 (Median) to Feb 2025, with 230 observations. The data reached an all-time high of 53,760.000 RMB mn in Dec 2024 and a record low of 117.007 RMB mn in Jan 2007. Insurance Premium: Year to Date: Health: Zhejiang data remains active status in CEIC and is reported by National Financial Regulatory Administration. The data is categorized under Global Database’s China – Table CN.RGD: Insurance Premium: Monthly Summary by Region: Health Insurance.