Healthcare Insurance Broker Market Report 2025

The healthcare insurance broker market size has grown strongly in recent years. It will grow from $58.55 billion in 2024 to $64.08 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. During the historic period, growth was driven by rising healthcare expenses, increasing complexity in insurance regulations, growing demand for employer-sponsored insurance, the expansion of government health coverage programs, and a higher prevalence of chronic diseases.

The healthcare insurance broker market size is expected to see strong growth in the next few years. It will grow to $90.74 billion in 2029 at a compound annual growth rate (CAGR) of 9.1%. In the forecast period, growth is expected to be fueled by greater penetration of private health insurance, evolving regulatory frameworks necessitating professional advisory services, rising demand for tailored insurance solutions, an increased focus on preventive care and wellness coverage, and the expanding health coverage needs of small and medium enterprises. Major trends anticipated for the forecast period include the use of artificial intelligence for client profiling, the integration of data analytics for risk assessment, the adoption of digital enrollment platforms, the implementation of omnichannel advisory services, and the application of blockchain for secure policy management.

The growing awareness of health insurance benefits is expected to drive the growth of the healthcare insurance broker market in the coming years. Health insurance benefits refer to the range of medical services and financial protections provided to insured individuals under a health insurance policy. This rising awareness is largely fueled by extensive government and health organization campaigns aimed at educating people about the importance of coverage, encouraging them to be more informed and proactive in seeking insurance. Healthcare insurance brokers play a key role in helping individuals access these benefits by assisting with plan selection, explaining coverage details, and ensuring that policies align with their medical and financial needs. For example, in June 2024, according to Health Affairs, a US-based peer-reviewed journal, an estimated 25 million people were projected to enroll in nongroup insurance coverage, marking an increase of 6 million compared to 2023. As a result, the growing awareness of health insurance benefits is contributing to the expansion of the healthcare insurance broker market.

Major companies in the healthcare insurance broker market are focusing on developing advanced solutions, such as digital health insurance ecosystem platforms, to improve operational efficiency, customer engagement, and service delivery. A digital health insurance ecosystem platform is a technology-driven system that connects insurers, healthcare providers, brokers, and customers to manage health insurance services online. For instance, in May 2024, Riskbirbal Insurance Brokers Private Limited, an India-based insurance broker company, introduced Wellconnect, a platform that integrates advanced technology, data-driven insights, and personalized care to transform the healthcare and insurance experience. It offers a wide range of features designed to enhance the employee health and insurance journey through an intuitive and efficient digital interface. Key features include simplified policy management, automated task handling, an integrated HR and claims dashboard, and seamless connectivity with existing HRMS systems to streamline onboarding processes.

In June 2024, Alliant Insurance Services Inc., a US-based insurance brokerage and consulting firm, acquired Health Market Solutions LLC for an undisclosed amount. This acquisition aims to strengthen Alliant Insurance Services Inc.’s position in the healthcare insurance brokerage sector and expand its capabilities in delivering customized health benefit solutions to clients across the US. Health Market Solutions LLC is a US-based health insurance agency specializing in healthcare insurance broker services.

Major players in the healthcare insurance broker market are UnitedHealth Group Incorporated, Marsh LLC, Aon plc, Willis Towers Watson Public Limited Company, Arthur J. Gallagher & Co., Hays plc, HUB International Limited, Brown & Brown Inc., USI Insurance Services LLC, Lockton Companies LLC, Alliant Insurance Services Inc., AssuredPartners Inc., HealthPlanOne LLC, NFP Corp., The Hilb Group LLC, eHealthInsurance Services Inc., Acrisure LLC, Leavitt Group Enterprises Inc., Cornmarket Group Financial Services Ltd., and Better Health Insurance Advice.

North America was the largest region in the healthcare insurance broker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in healthcare insurance broker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the healthcare insurance broker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.

A healthcare insurance broker is a licensed, independent intermediary who assists individuals, businesses, or organizations in choosing appropriate health insurance plans by evaluating coverage requirements, comparing options from multiple insurers, and facilitating policy acquisition while ensuring adherence to relevant regulations. These brokers are often engaged to help navigate complex healthcare systems, enhance coverage decisions, and provide ongoing support throughout the insurance process.

The primary types of insurance offered by healthcare insurance brokers include individual health insurance, group health insurance, Medicare insurance plans, Medicaid insurance plans, dental insurance, vision insurance, and short-term health insurance. Individual health insurance refers to a policy purchased directly by an individual, rather than through an employer, typically arranged by a healthcare insurance broker to suit personal medical and financial needs. Coverage areas include urban, suburban, rural, and remote locations, with distribution channels such as online platforms, direct sales, brokerages, affiliated agents, and retail outlets.

The healthcare insurance broker market research report is one of a series of new reports that provides healthcare insurance broker market statistics, including healthcare insurance broker industry global market size, regional shares, competitors with a healthcare insurance broker market share, detailed healthcare insurance broker market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare insurance broker industry. This healthcare insurance broker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The healthcare insurance broker market includes revenues earned by entities by providing services such as policy comparison and advisory services, claims assistance and processing support, underwriting and risk assessment consultation, healthcare provider network guidance, enrollment and onboarding support, plan customization services, and regulatory compliance assistance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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