In 2022, UnitedHealth Group Inc was the market leader and had a 14 percent share of the U.S. health insurance market. Ellevance Health and CVS (Aetna) followed with a market share of 12 percent and 11 percent, respectively. Who is UnitedHealth Group? UnitedHealth Group is headquartered in Minnesota and was founded in 1977. The revenue generated by the company has steadily risen since 2007. The company offers health care products as well as insurance coverage. Membership In 2023, Kaiser was the largest health insurance company in the United States, followed by Ellevance and UnitedHealth. Membership of Kaiser almost reached nine million in that year. Meanwhile, UnitedHealth is among the largest companies worldwide in terms of revenue and the largest health care company on that list.

As of 2023, UnitedHealth Group had a share of 15 percent in the U.S. health insurance market. Elevance health (Anthem) had the second-largest health insurance market share, covering ten percent of the market. The top five largest insurance companies represented around 50 percent of the total U.S. market share in the health insurance industry.

Health insurance market in the U.S.

The United States does not have a universal healthcare system for its citizens. In the U.S. most individuals depend on employer-sponsored health coverage for their healthcare needs. Private health insurance dominates the market as it provides group and non-group policies. Public health insurance offers coverage under federal programs, Medicare and Medicaid/CHIP are the most popular ones. The U.S. health insurance industry has witnessed significant changes in the last decade, with increased spending by private insurance, expanded coverage through the ACA, and a growing Medicare Advantage market.

Medicare Advantage market

Medicare Advantage plans give Medicare beneficiaries the option of receiving benefits from private plans rather than from the traditional Medicare program. UnitedHealthcare, part of UnitedHealth Group, is the largest U.S. health insurance company by total membership. In 2023, Medicare Advantage provided coverage to 31 million Americans, among which some 8.9 million Medicare Advantage (MA) beneficiaries were enrolled in a plan from the UnitedHealth Group Inc.

The Market Report Covers US Health Insurance Industry Trends and Companies and is Segmented by Procurement Type (Directly Purchased and Employer-Based), Products and Services (Pharmacy Benefit Management, High Deductible Health Plans, Free-For-Service Plans, and Managed Care Plans), and Place of Purchase (On Exchange and Off Exchange).

The MENA Health and Medical Insurance Market Report is Segmented by Insurance Providers (Public Sector Insurers, Private Sector Insurers, and Standalone Health Insurance Companies), Demographics (Adults, Minors, and Senior Citizens), Coverage (Individual and Family or Group), Distribution Channel (Direct Sales, Agents, Online, Bancassurance, and Other Distribution Channels), and Country (Saudi Arabia, United Arab Emirates, Egypt, Kuwait, Qatar, and Rest of Middle East and North Africa). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

With a third of domestic health insurance gross direct premiums written in Europe, the Netherlands has by far the highest share of total premiums. In the Netherlands, private health insurance is mandatory. Insurance companies in the Netherlands must offer a universal healthcare package at a fixed price for all ages and status of health. In 2019, health benefit gross premiums on the insurance market in the Netherlands amounted to almost 47 billion euros.

Germany, which has the oldest social health care system in the world runs a statutory health insurance plan. Those employed pay 50 percent of their insurance directly from their wages, with the company picking up the rest of the bill. Those who are self employed must pay for the complete cover. In 2020, the market share of the German health insurance market was 23.1 percent.

The Health Insurance Market in India is Rapidly Expanding, Driven by the Escalating Cost of Quality Healthcare and the Increasing Demand for Healthcare Insurance. The Growth of This Sector, Which Offers Medical Coverage for Costs Such As Hospitalization and Medication, is Fueled by Government Initiatives, Product Innovations, and A Rise in Awareness Among the Emerging Middle Class. The Market's Segmentation Includes Type of Insurance Provider, Customer, Health Coverage, Product Type, Demographics, and Distribution Channel.

The Report Covers Health Insurance Companies in Germany and the Market is Segmented by Product Type (Statutory Health Insurance, Private Health Insurance), Term of Coverage (Short-Term, Long-term), Channel of Distribution (Single Tied or Insurance Group Intermediaries, Broker and Multiple Agents, Credit Institutions, Direct Selling, Other Channels of Distribution), And Income Level (Employed Annual Income Less Than EUR 50, 850, Employed Annual Income Greater Than EUR 50850, Self-employed, Civil Servants). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The Market Report Covers Global Health Insurance Companies in Indonesia and is segmented by Provider and Product time. By Provider, it can be segmented as Public/Social Health Insurance and Private. Public Health Insurance can be further segmented into Askes, Askesin, Jamkesmas, JPKG, and JPKM. By Product Type Health and Medical Insurance Market in Indonesia can be segmented into Individual Health Insurance products and Group Health Insurance products.

In 2024, the biggest health insurance group in the Netherlands, Achmea, grew its market share, whereas its two closest competitors - VGZ and CZ - both relinquished one percent of the market. Insurance groups are known as "concerns" in the Netherlands. Note that this wording of concern matters a lot for Dutch healthcare. In the Netherlands, there are 10 large healthcare insurance concerns, each with multiple companies. The concern Achmea, for example, owns the following companies (commonly referred to as zorgverzekeraars: Agis Zorgverzekeringen, Avero Achmea Zorgverzekering, FBTO, Groene Land Interpolis Zorgverzekeringen, OZF Zorgverzekeringen, De Friesland, and Zilveren Kruis Zorgverzekeringen). In addition, some of these companies also own multiple health insurance brands or labels. To stick to the example of Achmea, this concern owned six companies but also the labels of ZieZo and Pro Life, which belong to Zilveren Kruis. In total, the 10 concerns were responsible for a total of 34 companies or health insurance brands. How common is switching health insurance provider in the Netherlands? It is allowed in the Netherlands to cancel one's basic health insurance and change insurance companies every year until the 31st of December. When individuals end their contract before the end of December, their contract will end as of January 1st. They can then choose a new health insurance company before February 1st. In 2023/24, the share of individuals who switched health insurance companies exceeded a value of approximately seven percent.

The Indian health insurance market is a rapidly growing sector, with a market size of 0.91 million in 2025. The market is expected to grow at a CAGR of 10.60% during the forecast period 2025-2033. The growth of the market is driven by several factors such as the rising awareness of health insurance, increasing disposable income, and government initiatives to promote health insurance. The Indian health insurance market is segmented by type of insurance provider, type of customer, type of coverage, product type, demographics, and distribution channel. The major players in the market include Star Health and Allied Insurance Co Ltd, Aditya Birla Group, Niva Bupa Health Insurance Company Limited, Bajaj Allianz Health Insurance, Bharti AXA Life Insurance, Religare, HDFC Ergo, Oriental Insurance, ICICI Lombard, United India Insurance, Reliance Health Insurance, New India Assurance, National Assurance, and Cigna TTK. The market is dominated by private sector insurers, which account for a majority of the market share. Recent developments include: August 2022 : the boards of Aditya Birla Capital Ltd and its subsidiary Aditya Birla Health Insurance Co. Ltd approved an investment of Rs 665 crores by Abu Dhabi Investment Authority in the health insurer on Friday (ADIA). The funds will be used to fuel the growth of the health insurer., July 2022 : Bajaj Allianz Life Insurance formed a strategic alliance with City Union Bank, one of India's oldest private sector banks. This collaboration will enable the private life insurer to provide a diverse range of life insurance solutions to the bank's existing and prospective customers across its 727 branches.. Notable trends are: Government Subsidized Health Insurance Schemes is Boosting the Sales of Health and Medical Insurance Policies.

Access the summary of the Health Insurance market report, featuring key insights, executive summary, market size, CAGR, growth rate, and future outlook.

The medical mutual insurance market exhibits robust growth potential, driven by factors such as an aging population, rising healthcare costs, and increasing government regulations mandating health insurance coverage. The market size in 2025 is estimated at $250 billion, growing at a compound annual growth rate (CAGR) of 5% from 2025 to 2033. This translates to a projected market value exceeding $375 billion by 2033. Key market drivers include the expanding adoption of health insurance policies due to rising awareness of preventive healthcare and increased disposable income in developing economies. Furthermore, technological advancements like telemedicine and digital health platforms are streamlining insurance processes and enhancing customer experience, further fueling market growth. The market segmentation reveals a significant proportion attributed to individual/family plans, highlighting the substantial demand for personal healthcare coverage. Growth across various insurance types, including medical, dental, vision, and critical illness, underscores the comprehensive nature of the market. Competitive dynamics are intense, with numerous national and regional players vying for market share. However, opportunities for innovation, such as personalized insurance products and targeted marketing strategies, remain abundant for companies to differentiate themselves and capture market share. The restraints to market expansion include affordability concerns, particularly in emerging markets with limited access to quality healthcare, which can limit the penetration of insurance products, leading to market saturation at certain points. Regulatory changes and their varying implementation across regions can cause complications in market expansion. Moreover, fluctuating economic conditions impacting consumer disposable income might impact buying power for medical insurance, thus causing a variation in growth patterns. The growth trajectory for the medical mutual insurance market remains promising. Nevertheless, strategic adaptation to challenges like regulatory hurdles, price sensitivity and consumer perception, coupled with a continuous focus on innovation and market consolidation, is imperative for sustained success within this dynamic sector.

[219+ Pages Report] The global Health Insurance market size is expected to grow from USD 2.10 trillion to USD 3.619 trillion by 2028, at a CAGR of 9.50% from 2022-2028

The health insurance market offers a range of products, including health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point-of-service (POS) plans. HMOs provide comprehensive coverage within a network of healthcare providers, while PPOs offer more flexibility in choosing providers but with higher out-of-pocket costs. POS plans combine features of both HMOs and PPOs, providing some flexibility while maintaining cost control. Recent developments include: June 2022:Allianz (Germany) subsidiary Bajaj Allianz launched the health insurance " Health Care". This insurance includes emergency treatment available for domestic and international usage., October 2021:United Health Group (US) launched the virtual-first health plan. This plan provides people with 24/7 access to a dedicated care team and quality care at a lower cost., April 2019:Aviva plc (UK) launched the private medical insurance service for corporate clients. It enables staff to access open recommendations to clinicians and medical specialists through their GP or the Aviva Digital GP app.. Notable trends are: Automation and digitization in health insurance are boosting market growth.

The China health insurance market is projected to exhibit a growth rate (CAGR) of 7.40% during 2024-2032. The market is primarily driven by the increasing number of chronic ailments, the widespread adoption of supportive government policies, the growing geriatric population, and the rising demand for higher-quality medical services in China.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on provider, type, plan type, demographics, and provider type.

The size and share of the market is categorized based on Type (Insured Liability, Payment Method) and Application (Personal, Enterprise) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Health & Medical Insurance Industry in Saudi Arabia is Segmented by Type of Insurance Provider (public Sector Insurers, Private Sector Insurers, Standalone Health Insurance Companies), Type of Customer (corporate and Non-Corporate), Type of Coverage (individual Insurance Coverage, Family, or Floater (group) Insurance Coverage), Product Type (disease-Specific Insurance and General Insurance), Demographics (minors, Adults, and Senior Citizens), and Distribution Channel (direct To Customers, Brokers, Individual Agents, Corporate Agents, Online, Bancassurance, and Other Distribution Channels). The Report Offers Market Size and Forecasts for the Health and Medical Insurance Industry in Saudi Arabia in Value (USD) for all the Above Segments.

In 2023, the Irish health insurance market was dominated by the leading three insurance groups. VHI, Ireland's leading provider of health insurance had a market share of 48.9 percent in 2023.

Forecast: Market Share of Foreign-controlled Health Insurance Companies in Germany 2024 - 2028 Discover more data with ReportLinker!

Introduction

Global Health Insurance Market was valued at the US$ 2.3 Trillion in 2023, and is further projected to register substantial growth of the US$ 4.7 Trillion by 2033, with a 7.5% CAGR. In 2023, North America led the market, achieving over 51.3% share with a revenue of US$ 1.17 Trillion.

The rising global population and increasing prevalence of chronic diseases have significantly driven the demand for health insurance products. With changing lifestyles and the growing burden of non-communicable diseases, individuals are seeking comprehensive healthcare coverage to manage escalating medical expenses. This trend is particularly prominent in emerging economies, where economic growth has enabled more people to afford health insurance.

Government policies worldwide are also playing a key role in boosting demand. Many countries have implemented mandatory health insurance policies, ensuring a consistent market for insurance providers. Additionally, healthcare reforms focused on improving accessibility, affordability, and quality of care are further contributing to the market's expansion.

Technological advancements are another major factor propelling market growth. Innovations such as artificial intelligence (AI) and machine learning have improved the efficiency of claims processing and policy management. Digital platforms have simplified access to insurance services, enhancing customer satisfaction through faster, more convenient processes.

The aging global population further fuels market growth, as older adults require frequent and intensive healthcare services. This leads to higher medical expenditures and increases the demand for adequate insurance coverage to mitigate financial risks.

In summary, the health insurance market is set for substantial growth, driven by demographic changes, technological innovations, and favorable government policies. While challenges such as regulatory compliance and high claim ratios persist, the overall outlook remains optimistic as individuals and organizations increasingly acknowledge the importance of health insurance in addressing healthcare-related financial risks.