What is Supplemental Health Insurance Market?
Supplemental health insurance is additional insurance that can cover some out-of-pocket expenses such as copayments, coinsurance, and deductibles that primary health insurance plans donít pay. It is a type of health insurance policy sold by private insurance companies to complement Medicare policies. This insurance covers common gaps in medicare's standard insurance plans. The factors such as the High Benefits of Supplemental Health Insurance and Increased Promotional Activities by Insurance Companies are driving the global supplemental health insurance market.
The market study is being classified by Type (Critical Illness Insurance, Accident Insurance, Hospital Insurance, Disability Insurance, Long-Term Care Insurance and Others) and major geographies with country level break-up.
Anthem, Inc. (United States), Bankers Fidelity Life Insurance Company (United States), Aetna Inc. (United States), Humana Inc. (United States), Cigna (United States), Mutual of Omaha (United States), ManhattanLife (United States), MetLife, Inc. (United States), Transamerica Corporation (United States) and State Farm (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Bharti Axa General Insurance Company Ltd. (India), Golden Rule Insurance Company (United States), Chubb Limited (United States) and Groupe Mutuel Holding SA (Switzerland).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Supplemental Health Insurance market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Supplemental Health Insurance market by Type, Application and Region.
On the basis of geography, the market of Supplemental Health Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- High Benefits of Supplemental Health Insurance
- Increased Promotional Activities by Insurance Companies
- Increased Awareness among People about Health Insurance
- Supplemental Health Insurance has Coverage Limits
- Supplemental Health Insurance Adds Additional Expenses
- Growing Demand from End-users
- Growth in the Insurance Sector
- Increased Penetration of the Internet
- Less Awareness in Developing Countries
In September 2020, Cigna Corporation has announced the launch of Evernorth, a new brand for its growing, high-performing health services portfolio. Evernorth will accelerate the delivery of innovative and flexible solutions to meet the diverse needs of health plans, employers, and government organizations.
Key Target AudienceSupplemental Health Insurance Providers, Emerging Companies, Research Professionals and End-users
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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