Forecast: Private Health Insurance Coverage in the US

Private health insurance coverage in the US has seen modest fluctuations over the past decade. In 2023, the coverage stood at 62.0. From 2013 to 2017, there was an upward trajectory with values peaking at 63 in 2016. However, a slight decline began in 2017, continuing through 2023 with an average decrease observed over the past five years. The compound annual growth rate (CAGR) from 2018 to 2023 exhibits a small negative trend at -0.22%, indicating a gradual erosion of coverage. Forecasts from 2024 to 2028 suggest a continual decline, with the 5-year CAGR projected at -0.23%, leading to a value of 61.2 in 2028.

Future trends to watch for:

• Potential policy changes under new government administrations that may impact private health insurance accessibility and affordability.
• Shifts in the job market that could affect employer-sponsored health insurance rates.
• Technological advances in the healthcare sector that could influence private health coverage demand.
• Public health trends and unforeseen events such as pandemics or economic downturns.