Roughly 17 million Americans bought non-group health insurance including full and limited coverage directly from insurers in 2007. That's according to a new report by Mark Farrah Associates, a Maine-based health care industry consulting firm, which asserts that the individual market is emerging as a key product line for health plans.
The company identifies WellPoint, Inc. as the leader in the market, with more than 20% of the nation's individual enrollees. Health plans, among them WellPoint and UnitedHealth Group, say they expect the individual market will expand further.
"This market will continue to grow at a slow but steady rate. Most health insurers have already introduced a range of products for the individual segment, and many marketing efforts are focusing on this target market," LuAnne Farrah, president of Mark Farrah, tells HPW.
