Figure · More money, fewer insured
The move to individual insurance explains, at most, 27% of the group decline
Between 2021 and 2023, group health policies fell from 117,282 to 79,527. Individual policies rose 14.6%.
The comfortable reading is a move: insured people switched from one channel to the other. The study puts it to the test.
The move explains at most 27% of the loss. To explain all of it, each group policy would have covered 1.33 lives. No group policy covers so few.
Two explanations remain. Either fewer employers are buying, or the same ones cover fewer employees. Both make covered people fall.
The study cannot yet separate them. It lacks the size in lives of the group policy, which no one publishes.
For a C-suite executive who sells to the sector, the difference matters. If employers leave, the channel loses customers. If they cut back, it loses people within each customer. Each case calls for a different sale.
- 117,282 to 79,527
- group health policies, from 2021 to 2023
- Source: C4Accel study, series More money, fewer insured · high confidence
- +14.6%
- is how much individual health policies rose over the same years
- Source: C4Accel study, series More money, fewer insured · high confidence
- 27%
- of the group loss is, at most, explained by the move to individual insurance
- Source: C4Accel study, series More money, fewer insured · medium confidence
- 1.33 lives
- is what each group policy would have had to cover for the move to explain it all
- Source: C4Accel study, series More money, fewer insured · medium confidence
Read the article: Group health policies fell 32% while insurance grew in dollars