In 2015, 55% of employees were enrolled in self-funded plans, compared to 60% of employees in 2021. Most of the growth occurred in states and counties with lower levels of self-funded enrollment, the study found.
Groups of rapid growth in self-funded plans were concentrated in Arkansas, New York, Northern California, Pennsylvania and Utah, the study found.
Elevance Health is the largest administrator of self-funded plans, with around 19% of the total market, according to the study. CVS Health claimed the fastest growing self-funded enrollment from 2015 to 2021.
Self-funded plans are not subject to private insurance regulations imposed by states. The researchers wrote the growth of these plans has implications for policymakers as a smaller proportion of plans are subject to these regulations.
More research is needed to understand the cause behind the growth, the researchers concluded.
The study was conducted by researchers at Baltimore-based Johns Hopkins University. Read the full study here.
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