Mark Farrah Associates Reports Second Quarter 2021 Health Insurance Segment Profitability
MCMURRAY, Pa.--(BUSINESS WIRE)--Oct 5, 2021--
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 2Q20 and 2Q21 National Association of Insurance Commissioners (NAIC) statutory financial data from MFA’s Health Coverage Portal™.
- For 2Q21, the average medical expense ratio for the Individual segment was 81.3%, as compared to 73.6% the previous year.
- Growth in medical expenses pushed the average medical expense ratio for the Employer-Group segment up to 84.2% for 2Q21 from 77.6% in 2Q20.
- For Medicare Advantage, premium growth was offset by increases in medical expenses, pushing the medical expense ratio up to 86.3% from 79.3% in 2Q20.
- The decrease in premiums coupled with the increase in medical expenses PMPM pushed the medical expense ratio up to 86.9% from 85.7% in 2Q20 for the managed Medicaid segment.
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 2021 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!
Healthcare Business Strategy is a FREE monthly brief that presents analysis of important issues and developments affecting healthcare business today. If you would like to be added to our email distribution list, please submit your email to the ” Subscribe to MFA Briefs ” section at the bottom of this page.
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CONTACT: Mark Farrah Associates
Ann Marie Wolfe,firstname.lastname@example.org
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH INSURANCE OTHER HEALTH MANAGED CARE GENERAL HEALTH BANKING
SOURCE: Mark Farrah Associates
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PUB: 10/05/2021 11:40 AM/DISC: 10/05/2021 11:41 AM