United States Personal Accident Health Insurance Market

United States Personal Accident Health Insurance Market Size Report – In a Glance

As per the survey report on United States personal accident health insurance market, the market is expected to foresee a CAGR value of 6.1% during 2025-2035, and further generate a market size of USD 717.5 million by the end of 2035. In 2025, the market size was value at USD 385.9 million revenue.

• The United States personal accident health insurance market’s growth is driven by rising awareness about availability of financial products for individuals and their families.
• KDMI analyst’s growth analysis foresees rising incidence of accident and injuries as the growth drivers for United States personal accident health insurance market.

United States Personal Accident Health Insurance Market

Personal accident health insurance is a financial product that provides lumpsum amount to beneficiaries or policyholders in case of accidental death, permanent disability, or temporary disability. This insurance is aimed to cover expenses of medical treatments and procedures for accidental purposes and differs from general insurance. Accident Insurance help victims to cover lost income and other expenses caused due to injuries, acting as a significant product for individuals and their families. The United States personal accident health insurance market growth is driven by rising awareness about availability of financial products which provides help to individuals and their families from unexpected losses. According to the data by National Association of Insurance Commissioners, the US health insurance industry’s profitability decreased from USD 25 billion to USD 9 billion in 2024, with the profit margin dropping from 2.2% to 0.8%, which is affected due to increased medical expenditure and individuals not opting for advanced treatment procedures, which demand for personalized financial products. UnitedHealth Group, Cigna, and Prudential Financial are some of the significant participants in the US market.

United States Personal Accident Health Insurance Market Growth Drivers and Restraints

Growth Drivers

• Rising incidence of accident & injuries – The US personal accident health insurance market is experiencing significant growth due to growing number of accidents due to road traffic incidents and workplace injuries, which drives the demand for insurance to manage out-of-pocket expenses. According to the National Highway Traffic Safety Administration report, in 2023, nearly 1,820 people were killed in motor vehicle traffic crashes in the US, which is low by 4.3% from 2022. The decrease was noticed due to government emphasizing on practices to protect people from uncertainties by integrating advanced infrastructure system in the region. Moreover, as the healthcare costs rises, individuals are increasingly becoming aware of the requirement of financial products like insurances to provide safety and security to support families. The increased awareness and risk environment is encouraging individuals to purchase accident and health insurance.
• Advances in technology & personalized offerings – The US personal accident health insurance market growth is majorly influenced by the adoption of advanced technology in insurances industry and personalized offerings of financial products making it more accessible and convenient to consumers. Integration of innovative solutions like artificial intelligence, big data analytics, and others help insurance companies to track health indicators and provide tailor-made policies to individuals, which enhances customers’ satisfaction and experience. Digitalization and mobile applications have enabled policy comparison for customers to choose suitable plan for the purpose they intend to serve. These advancements improve operations and build trust among consumers, which results in the purchase of personal accident health insurance across the region.

Restraints

• High cost & complexity of policies – The US personal accident health insurance market is rapidly expanding, but it faces major challenge due to high cost of premiums, especially for personalized accident and health coverage, which put burden on consumer’s pocket. Also, policy complexities including waiting periods, exclusions, and advanced ticks in fine prints, discourage consumers who find it hard to understand potential benefits of policy. These factors, impact the consumers interest and potential to purchase financial products like insurance policy and slowdowns the overall market growth.

United States Personal Accident Health Insurance Market Segmentation

Our experts at KD Market Insights have segmented the United States persona accident health insurance market research report as:

Analyst’s Observation on United States Personal Accident Health Insurance Market Recent Developments

Over the years, the experts at KD Market Insights have been observing the recent developments associated with United States personal accident health insurance market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

The US Department of Health and Human Services (HHS) has announced the expansion of access to more affordable catastrophic health coverage through HHI’S new hardship exemption guidance. This guidance provide access to more affordable catastrophic coverage for consumers who are ineligible for advance payments of the premium tax credit or cost-sharing reductions.

Sequioa Reinsurance Services and IOA Re has announced the collaboration with Everest Reinsurance Company to expand its product offerings in the personal accident reinsurance space. With the expansion, the companies will bring their A+ rated paper to the accident reinsurance market with new product offerings to better serve producers and clients.

United States Personal Accident Health Insurance Market Competitive Landscape

Some of the significant participants who top the United States personal accident health insurance market share:

• UnitedHealth Group
• The Hartford
• State Farm
• Cigna
• Prudential Financial
• Chubb
• Anthem
• Liberty Mutual
• Humana
• Progressive
• Allstate
• MetLife
• Aetna