What to Expect From Healthcare Consumers During Open Enrollment
The ACA marketplaces have opened for their third year of business, and here’s what we know: shopping around for health insurance is the new norm.
In fact, although just over half of respondents in our most recent consumer survey said they were satisfied with their health plans, 85% indicated that they “plan to” or “may” shop around during open enrollment. This represents a significant increase from last year, during which 61% expressed those same intentions. Health plan shopping is here to stay.
The data is part of a report from Media Logic and Competiscan (featured in the SlideShare above). The third in an ongoing series, it summarizes responses to a survey conducted prior to open enrollment with people nationwide who were already covered by health insurance they purchased last year through a federal or state exchange.
Media Logic and Competiscan inquired about a series of topics:
- Are consumers satisfied with their current plan and the value it provides?
- Do they intend to shop, and for what?
- What matters beyond the monthly premium?
- How savvy has the new healthcare consumer become as a shopper?
The answers can impact retention and enrollment significantly, and health plan marketers need to take note. For example, when you dive into the specific data about what healthcare shoppers are seeking (and that learn that many – 49% to be exact – are unsure if their current health plan is a good value), it’s clear consumers are willing to make changes year to year. For example, among survey respondents,
- 41% intend to look for a similar plan from a different insurer;
- 33% intend to look for a different plan from the same insurer; and
- 26% intend to look for a different plan from a different insurer.
The report captures evolving consumer shopping attitudes and offers insights heath plan marketers can use to enhance retention and acquisition efforts. It is necessary reading for anyone involved in marketing health plans.
Media Logic is uniquely focused on healthcare marketing – delivering breakthrough solutions that drive business for health plans. We offer deep experience in branding and lead generation… providing a strategic and creative edge in an increasingly competitive environment.
Competiscan is a full-service, competitive intelligence market research firm that enables clients to study marketing and loyalty strategies by industry, company, product or recipient demographic. Founded in 2006, Competiscan provides its clients valuable insights into the marketing strategies of competitors.
