More than 40 percent of medical insurance is now sold on a state-by-state basis, and that figure is expected to grow by another 30 percent to 40 percent over the next 10 years, according to a new report from the University of California, Berkeley, the Institute for Healthcare Improvement and the Health Policy Institute.
The new report, entitled Medical Insurance: State-by the Numbers, was prepared by the health care consulting firm Aetna and the Kaiser Family Foundation.
It found that about 75 percent of all medical insurance sold in the U.S. is purchased on a statewide basis.
The report says that states are now in the process of adopting “state-level medical insurance plans,” in which the state will provide insurance for residents who qualify for Medicaid and the Children’s Health Insurance Program (CHIP).
The new states will also have to set up an insurance exchange, which will enable insurance companies to sell their policies across state lines.
The market for medical insurance in California has been so strong that a recent survey found that 80 percent of respondents said they plan to purchase medical insurance on their own, rather than rely on insurance companies.