Mark Farrah Associates (MFA) recently released a report on the year-end 2023 health insurance enrollment update, comparing membership from the 4th quarter of 2023 to the 4th quarter of 2022. The report provides insights into enrollment trends for various insurance segments including Individual, Group, ASO, Medicare Advantage, and Medicaid. As of December 31, 2023, approximately 318 million people were covered by U.S. health insurers, representing a decrease of 2.1 million members from the previous year.
The Individual market saw an increase of approximately 3.5 million members during the comparison period. The Medicare Advantage market also experienced growth, with 1.8 million new members representing a 6.3% increase from the previous year. However, while Employer-group risk is still one of the largest sources of coverage in the industry, Employer-group ASO segment saw an increase of only 1.6 million enrollees during this period while Employer-group risk experienced a decline in membership
