Health & Medical Insurance in Massachusetts
Over the five years to 2018, the Health and Medical Insurance industry in Massachusetts has experienced moderate volatility. Revenue grew immediately following the implementation of the Patient Protection and Affordable Care Act (PPACA) because private insurance enrollment increased throughout the country. However, the impact of the PPACA on Massachusetts enrollment was mitigated compared with other states because Massachusetts already had strong health insurance regulation. Despite volatility, industry revenue is expected to rise over the five years to 2018. Over the next five years, the industry in Massachusetts is expected to continue growing, albeit at a slightly slower pace.
This industry underwrites (i.e. assumes the risks of and assigns premiums for) health and medical insurance policies. Insurance is the transfer of the risk of a loss in exchange for payment. Operators in Massachusetts also provide administrative services for self-funded insurance plans (whereby an employer provides health benefits to workers with its own funds). Under this structure, the industry operator is a third-party administrator and is not responsible for health benefit payments.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.