866-997-4948(US-Canada Toll Free)

Published on : Nov 17, 2014

The health insurance market is composed of various types of policies that assume risks related to health, and surgical and medical expenses. The policies that designed by health insurance providers assume risks and also assign premiums for these policies. Simply defined, insurance pertains to transferring the risk of medical expenses and/or death from the same in exchange for a small payment known as the premium.

Health insurance may be purchased by individuals or in some cases, employers may provide this in the form of benefits to employees using their own funds.

Growth in the health insurance sector has been sluggish since 2008-09, and continues to remain so because of a consumer deleveraging and reduced coverage by employers.

But as the cost of medical expenses continues to spiral, consumers are feeling the need to consider buying health insurance plans. Most insurance providers have an array of plans in place for organizations, individuals, children, and women. 

It is expected that as medical costs continue to increase over coming years, the health insurance market will be a key beneficiary. Moreover, the aging population in countries such as the United States and Japan will compel people to fall back on health insurance rather than paying for medical expenses from their own pocket. A number of health insurance reforms are underway, especially in the United States. Backed by government subsidies, the demand for health insurance will witness an upswing in the next few years. However, the factor to consider here is the decreased profitability arising from government subsidies.

Given that the health insurance sector has reached maturity, there is a marked slowdown in the level of aggressive innovation that characterized this industry in its development phase.

ResearchMoz.us helps you understand the key impact factors on the health insurance market with its comprehensive database of the most pertinent research reports. These reports, sourced from verified publishers and market research agencies, offer actionable insight for companies of all sizes.