The primary private health insurance coverage in the US showed fluctuations between 2013 and 2023, peaking in 2015 at 55.3 and gradually declining to 52.3 in 2023. From 2019 to 2023, there is a consistent decline with year-on-year variations mostly negative, indicating a downtrend. The Compound Annual Growth Rate (CAGR) in the last five years leading up to 2023 was -0.82%, reflecting a shrinking market.
Key Variations:
- Steep decline of -3.67% in 2019
- Moderate decline of -0.57% from 2020 to 2023
The forecasted data from 2024 projects a continued decline in coverage, reaching 50.7 by 2028. The five-year forecasted CAGR is -0.47%, translating to an overall decrease of 2.31% in the population covered by primary private health insurance.
Future trends to watch for include the potential impact of policy changes, demographic shifts, and economic factors, which may further influence the private health insurance market landscape.
