
Several companies may be selling health insurance in a given market, but, as we previously reported, most people usually enroll with one of a small number of insurers. Known as market concentration, this can result in fewer choices of insurers and higher premiums due to less competition in the market.
Market concentration generally increased from 2011 through 2022, with three or fewer insurers holding at least 80% of the market share for the individual and employer group markets in at least 35 states. However, the markets for individuals became slightly less concentrated from 2020 to 2022.
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