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The US health insurance market is highly concentrated, as leading insurers have carried out over 400 mergers from the mid-1990s to the mid-2000s (decade). In 2000, the two largest health insurers ( Aetna and UnitedHealth Group ) had total membership of 32 million.
Health insurance coverage is provided by several public and private sources in the United States. Analyzing these statistics is challenging due to multiple survey methods [13] and persons with multiple sources of insurance, such as those with coverage under both an employer plan and Medicaid.
The private health insurance industry fears that restricted eligibility and a market size that is too small could result in higher premiums, encourage "cherry-picking" of customers by insurers, and force a clearance of the exchange. That is what some believe will happen in Texas and California in their failed exchanges. [99]
An estimated 12 million persons obtained their insurance from insurance companies in 2016 via online marketplaces (federal or state) developed as part of the Affordable Care Act, also known as "Obamacare." This insurance is federally subsidized through a premium tax credit, which varies based on the level of income of the individual.
Witty also defended UnitedHealthcare, the company’s health insurance arm, though he acknowledged that it shares some of the responsibility for the lack of understanding about decisions on care.
The law includes a large number of health-related provisions, most of which took effect in 2014, including expanding Medicaid eligibility for people making up to 133% of FPL, [319] subsidizing insurance premiums for individuals and families making up to 400% of FPL and capping expenses from 2% to 9.8% of annual income.