KENNEBUNK, Maine--(BUSINESS WIRE)--
Mark Farrah Associates (MFA), www.markfarrah.com, noted in its latest Healthcare Business Strategy report that there will be significant changes to how people are concentrated by coverage type, as provisions from the Affordable Care Act (ACA) cover more Americans. Many people are expected to switch from employment-based coverage to off-exchange individual plans while others will qualify and enroll in public exchanges.
The analysis brief summarized the latest projections of how health insurance coverage will change due to effects of the ACA through the year 2024, as reported in the April 2014 CBO baseline projections report. CBO’s short-term projections suggest the industry will experience substantial shifts in how people are concentrated by health insurance type over the next five years. Six million people are projected to have coverage through the public exchanges in 2014. An estimated 7 million will obtain Medicaid and CHIP coverage, by 2015, the net impact of ACA changes is expected to result in the reduction of employment-based coverage by 2 million, and the number enrolled in nongroup and other coverage outside the exchanges is projected to decline by 3 million in 2015.
MFA also compared segment enrollment totals from 1st quarter 2013 with 1st quarter 2014 figures to provide additional insight about enrollment shifts. MFA’s analysis found aggregate enrollment in the individual, major medical segment grew by more than 2 million members. Managed Medicaid membership had increased by about 5.5 million. Enrollment in group risk plans offered by employers dropped 4.6 million from March 2013 to March 2014. In Addition, employer group ASO (administrative services only for self-funded business) membership grew by more than 1 million members in the last year.
To read the full text of “Health Enrollment Shifts and Early 2014 Insights", visit the Analysis Briefs library on Mark Farrah Associates' website www.markfarrah.com.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include Medicare Business Online™, Medicare Benefits Analyzer™, Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, and Health Plans USA™.
- Health Care Industry
Ann Marie Wolfe, 207-985-8484