Mark Farrah Associates Assesses Market Position of Blue Cross Blue Shield Plans
KENNEBUNK, Maine, Jan. 28, 2015 /PRNewswire/ -- In the latest Healthcare Business Strategy report, Mark Farrah Associates (MFA), www.markfarrah.com, analyzed Blue Cross and Blue Shield market share and assessed recent membership trends and overall growth among BCBS companies. Blue Cross and Blue Shield organizations (BCBS or Blues) are the nation's oldest and largest family of health insurance companies. Linked together through the Blue Cross and Blue Shield Association, the Blues are a national federation of 37 independent BCBS companies. Blues organizations cover one-in-three Americans and the brand has a presence in every state and U.S. territory.
As of September 2014, MFA's assessment of comprehensive medical membership by state in the Individual, Group Risk, Group ASO, FEHBP (Federal Employees Health Benefits Program), Medicare Advantage and Managed Medicaid segments, revealed BCBS companies and affiliates command more than 60% of the health insurance market share in 9 states. MFA found Blues companies have collectively retained a 50 to 59% share of the market In 12 states and Blues market share ranged from 40 to 49% in another 12 states. For 17 states plus the District of Columbia, Blue Cross and Blue Shield business represents local market shares ranging from 20% to 39%.
Blues plans and affiliates provide insurance for 104 million people through major medical plans. This includes an aggregate 5% increase in total medical membership year-over-year, as surges in the Individual, Medicaid and Medicare segments drove overall growth primarily due to the exchanges. Two large companies, Anthem (formerly WellPoint) and Health Care Service Corporation (HCSC) currently operate Blues plans in several states but many BCBS plans continue to operate in single-state territories as non-profits. Anthem and HCSC lead other Blues organizations with respect to total membership, enrolling 25.5 million and 14.5 million. Both companies experienced significant growth in the last year, adding approximately a million members each. It is also significant to note, in addition to Anthem and HCSC, another twenty Blues companies provide medical coverage for more than a million people.
To read the full text of "Blue Cross and Blue Shield Plans Still Lead in Many Markets", visit the Analysis Briefs library on Mark Farrah Associates' website www.markfarrah.com.
About Mark Farrah Associates (MFA)
Mark Farrah Associates™ (MFA) is a leading provider of payer market share and financial performance data for the healthcare industry. MFA's Health Coverage Portal™ presents risk-based and self-funded membership data and detailed health plan financial statement data. Our product portfolio includes Health Coverage Portal™, County Health Coverage™, Health Insurer Insights™, Medicare Business Online™, Medicare Benefits Analyzer™, and Health Plans USA™.
Mark Farrah Associates
Ann Marie Wolfe, 412-595-7124
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SOURCE Mark Farrah Associates