Over the past few years the health insurance industry has seen major M&As, further consolidating power into the hands of a few dominant companies — leaving Americans with fewer options. As of 2023, just four health insurers control a staggering 50% of the market, while six companies account for 30% of all healthcare spending in the United States. While these mergers have boosted profits for these companies, they also, in some cases, raised premiums for consumers.
