The Blues Hold Over One-Third of Health Insurance Market

As of September 30, 2023, Blue Cross Blue Shield membership held 37 percent of the U.S. health insurance (Individual plus Employer-based, for all funding types, Medicaid & Medicare) market, or 119.7 million members. According to analysis by Mark Farrah Associates, this has not led necessarily to an increase in profit margins for the group. For all Blues plans, profit margins decreased from 6.1 percent in the third quarter of 2020 to 3.9 percent in the third quarter 2021 and continued to fall in 2022 to 3.0 percent. However, they have seen a bit of a rebound in the third quarter of 2023 to 3.5 percent. Click here for the report.