Statement and Billing Volume Analysis - Finserv and Healthcare

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Part
01

Statement Volume - Health Insurance 2 (A)

In 2018, 67.3% of the 299.79 million people in the United States with health insurance had private health insurance coverage. That same year, around 59.8 million people were enrolled in Medicare.

US Health Insurance Breakdown

2017

  • The total number of health insurance enrollments in the United States in 2017 amounted to 294.6 million.
  • Meanwhile, private health insurance coverage enrollments reached 197.97 million (67.2% of 294.6 million).
  • The number of Medicare enrollments in 2017 was 56.8 million.
  • According to Statista, the number of Medicaid enrollments was 73.8 million in 2017.

2018

  • The total number of health insurance enrollments in the United States reached 299.79 million in 2018.
  • Enrollments for private health insurance coverage in the nation was 201.75 million (67.3% of 299.79 million).

Additional Insights

  • Around 20% of all Medicare beneficiaries are qualified for the Medicaid program, and therefore, some are eligible for both Medicare and Medicaid programs.
  • Approximately 12 million people in the United States were dually eligible beneficiaries in the year 2017 for both Medicare and Medicaid benefits. (Source #11)
  • The following year in 2018, the same number (12 million) people in the United States were dually eligible beneficiaries with both Medicare and Medicaid benefits.
  • The majority of health insurance enrollees are able to enroll in multiple private health insurance coverage plans.

Research Strategy:

Initially, we scoured through the previous research request and discovered that 294.6 million and 299.79 million people in the United States were enrolled in health insurance coverage in 2017 and 2018 respectively. Next, we attempted to garner insights on the breakdown of US health insurance coverage and found that in 2017 and 2018, 67.2% and 67.3%, respectively, of the total health insurance coverage comprised of private insurers. Based on these facts, we calculated the number of private health insurance coverage enrollments for 2017 and 2018 as presented in findings section. Similarly, we located statistics on enrollment in medicare and medicaid in 2017 and 2018.

Please note that the summation of private + Medicare + Medicaid insurance enrollments may exceed the total health insurance coverage as some individuals (around 12 million people in 2017 and 2018) were enrolled in both Medicare and Medicaid programs, while others opted for more than one private health insurance program.
Sources
Sources

Quotes
  • "• In 2017, private health insurance coverage continued to be more prevalent than government coverage, at 67.2 percent and 37.7 percent, respectively. Of the subtypes of health insurance coverage, employer-based insurance was the most common, covering 56.0 percent of the population for some or all of the calendar year, followed by Medicaid (19.3 percent), Medicare (17.2 percent), direct-purchase coverage (16.0 percent), and military coverage (4.8 percent)."
  • "Between 2016 and 2017, the number of people with health insurance coverage increased by 2.3 million, up to 294.6 million."
Quotes
  • "Nearly 75 million Americans were estimated to be enrolled in the Medicaid program as of 2018. "
Quotes
  • " In 2018, private health insurance coverage continued to be more prevalent than public coverage, covering 67.3 percent of the population and 34.4 percent of the population, respectively."
Quotes
  • "Some people do qualify for both Medicare and Medicaid, and in those instances, most of the enrollee’s health care costs are covered. People who are eligible for Medicaid and Medicare are known as dual eligible. About 20 percent of Medicare beneficiaries are also eligible for Medicaid."
Quotes
  • "You can have Medicaid and Medicare at the same time. You can’t have Medicaid along with any type of private insurance."
  • "Most private insurance plans may overlap with one another, but you can’t get subsidies on the exchanges to reduce premiums if your employer offers an affordable plan."
  • "Medicare can overlap with employer-sponsored health insurance, but not with plans sold on the federal or state marketplaces."
Quotes
  • "Total dually eligible beneficiary population continues to grow: Between 2006 and 2017, the total numberof dually eligible beneficiariesincreased from 8.6 million to 12.0 million, an average annual growth rate (AAGR) of 3.0 percent. "
Quotes
  • "Over 12 million individuals are concurrently enrolled in Medicaid and Medicare. "