Traditional health insurance is at the heart of the U.S. insurance market

In the area of commercial health insurance, the United States is a group-based group procurement market, before the outbreak, employers in the United States paid 163 million group insurance, 13 million members, 29 million unsecured people.
, U.S. government health insurance is second only to commercial coverage, with 60 million Medicare and 71 million Medicaid.
with the rising cost of medical care, companies are increasingly unable to afford rising premiums, which makes the group insurance market premium increases slow down.
, of course, this easing is largely based on passing on the burden of the original business to individuals, relying mainly on high deductible insurance (HDHP) to reduce premium increases.
According to a 2015 Kaiser Family Foundation report with the nonprofit Peterson Center on Healthcare, more than 60 percent of employees receive coverage from businesses that cover less than $500, but the percentage of users with deductibles of more than $1,000 a year has risen significantly, from 17 percent in 2005 to 24 percent in 2015.
12 percent of employees have deductibles of more than $2,000.
same time, more than half of employees diagnosed with cancer had deductibles of more than $5,000.
this approach, employers' health insurance spending growth has gradually flattened, with group insurance premiums rising by only an average of 3% a year since 2012.
, however, the decline in growth in the traditional business health insurance market is not good for insurers, forcing them to look for new growth points.
U.S. insurance market, driven by the Affordable Care Act, had high hopes, but the market has remained narrow, with its user base falling back after peaking at 17.4 million in 2015 and falling back to more than 13 million in 2019.
, only the largest amount of government health care business can be the main growth point, which is currently the main battleground for large commercial insurance companies.
U.S. government allows commercial insurance to run Medicare and Medicaid, the former under the name Medicare Advantage, or Medicaid C, and the latter called Medicaid MCO.
increase in net premiums at Medicaid MCO rose from $43.1 billion in 2007 to $224 billion in 2017.
MA business rose from $69.9 billion in 2007 to $202.7 billion in 2017.
2017, the total market size of U.S. government health care is $1.3 trillion, and the commercial insurance operations have reached one-third.
We analyzed six of the leading U.S. insurers in CMS-related supplements - United Healthcare, Humana, Aetna, Anthem, Cigna and Centene - and found that The highest number of cmS-related commercial supplements, including Medicare and Medicaid Supplements, was United Healthcare, with 15.67 million members in 2019, or 32 percent of the company's total membership, up 4 percentage points from 2016.
followed by Anthem, with 10.98 million CMS-related business supplements in 2019, accounting for 27% of the company's total membership, up 3 percentage points from 2016.
Two other companies, Humana and Centene, with CMS-related complementary products at the heart of their business, each had more than 9 million CMS-related business supplements in 2019, accounting for 55% and 59% of the company's total membership, respectively, but down 9 and 4 percentage points respectively from 2016.
in terms of premium income from CMS supplements, 42% of United Healthcare's total premium income in 2019 came from CMS-related supplements, up 10 percentage points from 2016, a significant increase in importance.
the same trend, with CMS-related products accounting for 27% of its members but revenue of 61%.
and Centene's CMS-related premium income already accounts for 87% and 81% of total revenue, which is the absolute majority.
another company, Cigna, also accounts for 31% of revenue, even though CMS-related supplements account for only 8% of the company's total membership.
all companies except Centene, CMS-related supplements accounted for an increase in total premium income from 2016 to 2019.
CMS-related premium income of insurance companies as a percentage of total premium income data source: Listed companies reported that Latitude Health analysis between 2016 and 2019, the average annual growth rate of each company's membership, with the exception of Humana slightly lower, remained at 4% to 10%, Cigna due to the original membership base is small, the fastest growth rate.
Centene, a specialist company focused on Medicare and Medicaid's complementary businesses, has maintained an average annual membership growth rate of 8%.
The average annual growth rate of United Healthcare and Centene in premium income from CMS-related supplements over the past four years shows that the potential of this market has gained strong support from major insurers and has increased.
, even as membership growth slowed, average annual CMS-related revenue growth reached 9%.
only from the MA product this point of view, the head company's lead is very obvious.
2019, according to the Kaiser Family Foundation, United Healthcare has 26 per cent, Humana 18 per cent, BlueCross Blue Shield 15 per cent (working closely with Anthem), Aetna 7 per cent and Cigna 10 per cent.
companies together account for 69 percent of the market, up 6 percentage points from 2018.
market concentration has increased rapidly.
From the above data and analysis can sum up a few points: the traditional U.S. commercial health insurance market slowdown forced insurance companies to seek new growth points, and gradually to undertake the government health insurance supplementary insurance transformation process from the early 1990s to the present 30 years, and now finally occupy the major market share of commercial health insurance.
government health insurance in the commercial health insurance share will have a profound impact on the market, will also profoundly change the future development model of insurance companies.