Wellpoint Individual Health Plans
According to a recent research report written by Debra A. Donahue of Mark Farrah and Associates, the individual health insurance marketplace is growing. As of the end of Q2 2009, national individual health insurance enrollment totaled about 9.7 Million, up from about 9.6 Million from the previous year. This enrollment does not include those individuals enrolled in Medicare Health Plans, or other state sponsored Programs. Part of this growth is being fueled by high unemployment rates and less people having access to group sponsored plans.
The report makes it crystal clear that Wellpoint is the largest and most dominant player in the individual health insurance marketplace, albeit partly due to their large geographic footprint, covering 15 states.
The top 5 health plans ranked by enrollment in individual health plans include:
- Wellpoint - with enrollment of over 2.25 Million (23% market share)
- HCSC (Health Care Services Corporation) - 670,000 (7%)
- Blue Cross Blue Shield of Florida - 370,000 (4%)
- Kaiser Foundation Health Plans - 344,000 (4%), down 12% from previous year
- Humana - 336,000 (4%), up 28% from previous year
Humana increased the number of states it offered it HumanaOne individual health insurance plan from 15 states to 24 states in March 2008, which accounted for their large increase in enrollment.
Wellpoint and HCSC are both health insurance companies that offer Blue Cross Blue Shield Health Plans in multiple states. Wellpoint includes 15 BCBS licensees, and HCSC 4.
