US Health Insurance Market Report 2023

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