Description

This report provides deep insight into the US health insurance market and consumer. Understand the state of the industry, and what consumers want to see from providers. Below, we summarize the key topics covered and offer handpicked insights from the report itself.

Key Topics Covered

  • Most important factors in choice of a provider and health plan.
  • Health plan consumer behaviors (eg choosing/researching).
  • Consumer attitudes toward their providers and the health insurance industry.
  • Individual health insurance purchase channels.

US Health Insurance Industry Overview

The US healthcare industry has responded to consumers’ heightened focus on physical and mental wellbeing by investing in virtual and value-based care models. Telehealth has been a major driver of this digitization, particularly among younger consumers and parents. Incentive-driven care models have also seen increased interest from consumers.

Despite this, trust in healthcare providers has remained stagnant. To address this, insurers must be proactive by offering rewards and incentives for healthy behaviors, providing mental health resources, and investing in digital solutions to enhance the customer experience.

US Health Insurance Industry Statistics

Below, we provide some consumer-focused statistics from this report, and discuss opportunities to engage based on them.

  • Consumers want autonomy, and this drives health insurance choice. 69% of consumers consider being able to choose their doctor as the top factor in their health insurance plan decision. Providing easy-to-navigate directories of doctors (and hospitals) will continue to prove beneficial.
  • Gen Z and Millennials place higher value on mental health resources. 24/7 virtual access to support will therefore be an important aspect, as will be providing tailored mental health packages for these demographics.
  • Almost 45% would use buy now, pay later (BNPL) to pay for healthcare. This trend leans toward lower-income households, and health insurance providers can position to indicate the importance of preventative healthcare that would otherwise be inaccessible due to financial barriers.

For a complete breakdown of strategies in the US health insurance market, buy the full report. Alternatively, browse our insurance market research to see more relevant reports. Our health and wellbeing market research may also be of interest.

Additional Features Included in Your Report

Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentation, as well as an Excel Databook.

Mintel’s Clients Portal: Our portal offers instant access to actionable analysis and trends pieces relevant to your industry that are published almost daily. You can also browse for more market research reports.

Expert Analysis

Leading finance analyst Amr Hamdi delivers in-depth commentary and analysis of the US health insurance market with this report.

The biggest winners will be insurers that remain innovation-driven while maintaining a customer-centric ethos to ensure long-term and value-filled relationships.

Amr Hamdi, Finance Analyst for Mintel

 

Amr Hamdi
Finance Analyst

Table of Contents

    • Key issues covered in this Report
  1. Executive Summary

    • Consumer trends: key takeaways
    • Graph 1: understanding of health coverage, by household income, 2023
    • Graph 2: purchase channel for individual health insurance, by age, 2023
    • Opportunities
    • Graph 3: attitudes toward health-based incentives, by generation, 2023
    • Graph 4: prescription drug coverage ownership, by race and ethnicity, 2023
  2. Consumer Insights

    • Consumer fast facts
    • Factors in choice of health insurer and plan
    • Graph 5: top five factors in choice of health insurer, 2023
    • Graph 6: top factors in choice of health insurance plan over time, 2021 and 2023
    • Graph 7: importance of choice of doctors versus choice of hospitals in health plan, by age, 2023
    • Graph 8: importance of mental health resources in health plan, by generation, 2023
    • Health plan behaviors
    • Graph 9: researching health insurance plans online over time, 2019, 2021 and 2023
    • Graph 10: researching healthcare costs in advance, by generation, 2023
    • Graph 11: ease in finding information about health plan, 2023
    • Attitudes toward health insurance
    • Graph 12: trust in insurance provider versus industry over time, 2021 and 2023
    • Graph 13: healthcare coverage influence on job selection, by generation and parental status, 2023
    • Graph 14: interest in text messaging and chatbots, by generation, 2023
    • Graph 15: BNPL interest for healthcare expenses, by household income, 2023
    • Graph 16: BNPL interest for healthcare expenses, by generation, 2023
    • Medicare enrollment behaviors
    • Graph 17: Medicare enrollment behaviors, 2023
    • Valuable health insurance app features
    • Graph 18: importance of telehealth in a health insurer’s mobile app, by children in household, 2023
  3. Competitive Strategies

    • Marketing and advertising
    • Opportunities
  4. The Market

    • Market drivers
    • Graph 19: unemployment rate, 2020-23
    • Market size
    • Graph 20: type of health insurance currently owned, 2023
    • Graph 21: health insurance ownership, 2023
  5. Appendix

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

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Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Also, our reports come in PDF, Powerpoint, Word and Excel Databook formats.

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