Mark Farrah Associates (MFA), www.markfarrah.com, released an analysis brief providing insights into mid-year profitability for commercial and government lines of health insurance business. MFA compared second quarter, year-over-year profitability for the Individual, Employer-Group, Medicare and managed Medicaid segments. Financial insights were gleaned from aggregated 2Q21 and 2Q22 National Association of Insurance Commissioners (NAIC) statutory financial data from MFA’s Health Coverage Portal™.
- For 2Q22, the average medical expense ratio for the Individual segment was 82.9%, as compared to 81.3% the previous year.
- For the Employer-Group Risk segment, growth in premium, which more than offset the increase in medical expenses, pushed the average medical expense ratio for this segment down to 83.7% for 2Q22, from 84.2% in 2Q21.
- For Medicare Advantage, premium growth, which was greater than the increase in medical expenses, pushed the average medical expense ratio for this segment down to 85.4% for 2Q22, from 86.3% in 2Q21.
- For Managed Medicaid, all but one of the segment leaders reported financial results leading to a medical expense ratio below the segment average of 86.5%.
Market analysts throughout the industry rely on enrollment data and segment performance metrics to gain better insights into health plan market share and competitive positioning. Mark Farrah Associates maintains financial data as well as enrollment and market share for the health insurance industry in its subscription-based Health Coverage Portal™. MFA will continue to monitor health plan performance and competitive shifts across all healthcare segments.
To read the full text of "Mid-Year 2022 Health Insurance Segment Profitability", visit the Analysis Briefs library on Mark Farrah Associates' website.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. Follow us on LinkedIn!
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Contacts
Mark Farrah Associates
Ann Marie Wolfe, amwolfe@markfarrah.com
