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.

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.

In the U.S. many employers pay a portion of health care costs for employees. As of 2019, the total annual medical costs for employees was just over 13 thousand U.S. dollars. That cost is expected to increase to 13.7 thousand U.S. dollars by 2020. There have been recent changes to employer-offered health care through the Affordable Care Act that requires employers with over 50 employees to offer affordable health care options to their employees.

U.S. health benefits at work

In the United States, both employers and employees may pay health care costs, depending on the work. In a recent survey U.S. residents were asked what benefits they expected from their employers, a vast majority of them said that they expect health care benefits. Despite the demand from employer-sponsored healthcare coverage, not all companies feel that they would be able to offer health coverage as an employment benefit. Another recent survey has illustrated that employer confidence in offering health insurance can change dramatically from year-to-year.

U.S. sick leave benefits

Another aspect of workplace health and wellness, is annual sick leave. In general, a majority of U.S. workers have access to a fixed number of paid sick days per year. However, a very small proportion of employees had access to paid sick leave as needed. As of 2017, around half of all employees utilized up to 5 days of sick leave per year. Despite that, there was still a large proportion, especially among those aged 18-30 years that went to work even though they were ill.

Limit state-purchased health care cost growth to 2% less than the projected national health expenditures average every year through 2019.

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.

In 2023, the total value of direct premiums written by private health insurance companies amounted to approximately 1.2 trillion U.S. dollars. This is more than double the 459.27 billion U.S. dollars recorded ten years prior in 2013, and over 200 billion U.S. dollars higher than the value recorded in 2022. Note these totals include direct premiums written under the Medicare and Medicaid programs, both of which are (largely) public funded.

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.

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.

In 2023, health insurance with family coverage for health care employees in the United States cost on average 2,096 U.S. dollars per month. This was the industry with the highest health insurance costs in that year.

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.

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.

Insurance Premium: Year to Date: Health: Jiangxi data was reported at 4,338.000 RMB mn in Feb 2025. This records an increase from the previous number of 2,035.000 RMB mn for Jan 2025. Insurance Premium: Year to Date: Health: Jiangxi data is updated monthly, averaging 1,638.166 RMB mn from Jan 2006 (Median) to Feb 2025, with 230 observations. The data reached an all-time high of 18,255.000 RMB mn in Dec 2024 and a record low of 35.501 RMB mn in Jan 2006. Insurance Premium: Year to Date: Health: Jiangxi 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.

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.

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.

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

Dataset Card for Medical Insurance Cost Prediction

The medical insurance dataset encompasses various factors influencing medical expenses, such as age, sex, BMI, smoking status, number of children, and region. This dataset serves as a foundation for training machine learning models capable of forecasting medical expenses for new policyholders. Its purpose is to shed light on the pivotal elements contributing to increased insurance costs, aiding the company in making more informed… See the full description on the dataset page: https://huggingface.co/datasets/rahulvyasm/medical_insurance_data.

The small business health insurance market is a dynamic sector experiencing significant growth, driven by factors such as increasing numbers of small businesses, rising healthcare costs, and government mandates encouraging employer-sponsored coverage. The market, estimated at $150 billion in 2025, is projected to experience a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033, reaching approximately $250 billion by 2033. This growth is fueled by several key trends, including the rising adoption of technology in healthcare administration, increasing demand for comprehensive coverage options, and a growing preference for value-based care models among small businesses. However, challenges persist, including rising premiums, administrative complexities, and the ongoing debate surrounding healthcare reform. Competition within this market is fierce, with established players like UnitedHealthcare, Anthem, and Blue Cross Blue Shield competing with newer entrants offering innovative solutions and digital platforms. The segment is characterized by a diverse range of providers catering to the specific needs of small businesses. These providers offer various plan designs, benefit packages, and administrative support tailored to the unique requirements of small employers. Geographical variations also influence market dynamics, with regions exhibiting higher rates of entrepreneurship and small business growth showing stronger demand. Continued government regulation, such as potential changes to the Affordable Care Act (ACA), will likely impact the market’s trajectory in the years ahead. Strategies for success in this market include focusing on technological advancements to streamline administration, personalized customer service, competitive pricing strategies, and a robust network of healthcare providers. The long-term outlook remains positive, predicated on continued economic growth and a persistent need for affordable and comprehensive healthcare coverage for small business employees.

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)

Health and medical insurance companies experienced significant fluctuations in performance in recent years. The onset of COVID-19 led to a substantial increase in healthcare spending in 2020 and 2021, as demand for medical services surged. Consequently, investment in health insurance witnessed a dramatic rise, contributing to robust revenue growth during these years. However, with inflation peaking in 2022, consumer purchasing power diminished, causing households to reduce their spending on health insurance. This factor, coupled with a slowdown in health expenditure growth as the immediate pandemic effects waned, resulted in meager revenue growth for insurers in 2022, a notable deceleration compared to prior years. The industry performed better in 2023 as low inflation enabled consumers to more easily afford health insurance, with revenue then rising significantly in 2024 due to soaring investment income. More broadly, providers have been influenced by slowing healthcare inflation, despite a historically rapid rise in prior decades. For example, from 1970 to 2010, health expenditures skyrocketed, buoyed by substantial innovations. However, recent years have seen this growth plateau. This is attributed to a shift toward less costly innovation, focusing more on pharmaceutical advancements rather than costly healthcare system overhauls. Consequently, providers have faced slower revenue growth. Consolidation has risen as the industry’s largest players have used economies of scale, acquisitions and advertising to take over more of the market. Regardless, internal competition has soared as more providers have entered the industry to capture new revenue streams due to rising short-term health spending and the aging of the US population, constraining profit. Overall, revenue for health and medical insurance companies has swelled at a CAGR of 3.8% over the past five years, reaching $1.5 trillion in 2025. This includes a 2.5% rise in revenue in that year. The industry's landscape is set for further evolution over the next five years. Anticipated steady economic growth, with GDP projected to rise and unemployment to remain low, is likely to bolster health insurance revenue streams, primarily through heightened spending on employer-sponsored and private health plans. However, the potential for economic disruptions, such as the implementation of tariffs, could affect providers’ stability. As the population ages and healthcare demand grows, insurers will seek to tailor their policies to address the needs of an older demographic, necessitating comprehensive services. Overall, revenue for health and medical insurance providers is forecast to expand at a CAGR of 2.7% over the next five years, reaching $1.8 trillion in 2030.