The U.S. healthcare discount plan market size is expected to reach USD 3.8 billion by 2030, registering a CAGR of 10.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing chronic diseases burden, increasing health expenses, and rising out-of-pocket expenditures are boosting the demand for health/medical discount plans offering affordable treatment solutions.
U.S. Healthcare Discount Plan Market Report Highlights
- The other services segment dominated the market in 2021 owing to the growing demand for advanced discount plans amalgamated with additional benefits covering diagnostics, diabetic supplies, laboratory tests, and endoscopies
- The virtual visits services segment is anticipated to register the fastest growth rate over the forecast years
- This growth can be attributed to the increasing availability of telemedicine services, such as online consultation, and 24/7 access to care professionals
- The dental care services segment accounted for the second-largest share of the overall revenue in 2021
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U.S. Healthcare Discount Plan Market Report
Market players are focusing on increasing investments, innovating products & services, collaborating & partnering with other players to deliver affordable and accessible treatment solutions. Furthermore, the growing demand for enhanced treatment quality and improved patient experience, which would drive clinical outcomes & coordinate patient care is further boosting the adoption of health/medical discount plans.
For instance, United Healthcare, in June 2019, launched UnitedHealthcare Hearing, an innovative service provider offering affordable, quality hearing solutions. Moreover, as a part of their public awareness campaign, United Healthcare donated 20,000 reusable silicone plugs to police departments and fire departments across the country. The growing presence of Discount Medical Plan Organizations (DMPOs) providing affordable medical plans for a wide array of services is expected to drive the market. A rise in demand for affordable dental care, vision care, hearing aids, prescription drugs, and chiropractic care for individuals as well as groups who lack insurance coverage is expected to drive the demand further and promote the development & growth of the market. The growing prevalence of chronic ailments and increasing health-consciousness are driving the need for hassle-free, affordable treatment solutions.
COVID-19 Impacts On U.S. Healthcare Discount Plan Market
COVID-19 pandemic has exposed a flaw in the current benefit plans. They do not provide affordable cost coverage for critical services, such as telehealth, prescription drugs, diagnostics, and medical care, associated with pandemic–related illnesses. Care facilities and institutes underwent major structural transformations and medical procedures were prioritized. Some of the government and private healthcare providers are offering additional support & protective equipment to the caregivers, expanding telehealth access, and increasing flexibility in Medicaid benefits, to address coronavirus pandemic like public health emergency.
Industry Share Analysis By Major Companies
Key players are focusing on devising innovative product development strategies through mergers & acquisitions and collaborations to expand portfolios and strengthen the business position. Some key participants in the U.S. healthcare discount plan market are:
Discount Medical Plan Organizations (DMPOs)
- Coverdell
- Access One Consumer Health, Inc.
- New Benefits, Ltd.
- Alliance Healthcard of Florida, Inc.
- Ameriplan
- CARRINGTON International Corp.
Marketer
- Cigna
- Sam’s West, Inc.
- United Health Group
- com, Inc.
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U.S. Healthcare Discount Plan Market Segmentation
Grand View Research has segmented the U.S. healthcare discount plan market based on service:
- S. Healthcare Discount Plan Service Outlook (Revenue, USD Million, 2016 – 2030)
- List of Key Players of the U.S. Healthcare Discount Plan Market
- Discount Medical Plan Organizations (DMPOs)
- Marketer
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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