U.S. Group Health Insurance Market Outlook 2023–2030: Trends, Forecast & Strategic Insights
The U.S. group health insurance market size was estimated at USD 1,345 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 2.3% from 2023 to 2030. The increasing demand for group health insurance, known as employer-sponsored insurance, and its rising average premium price has led to a spectacular development of the U.S. group health insurance market. Furthermore, rising internet usage and digitalization positively influence the overall U.S. market. In 2020, the COVID-19 pandemic decreased employment and negatively impacted employer-sponsored insurance. For instance, according to September 2022 article from the American Medical Association (JAWA Network), employer-sponsored insurance (ESI) enrollment decreased by 7,23,796 members during the COVID-19 pandemic and did not return to pre-COVID levels by mid-2021. Furthermore, according to KFF's Employer Health Benefits Survey 2022 report, as the situation of uncertainties post-COVID-19 pa...