Table of Contents
Executive Summary
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- The market
- Number of Americans buying health insurance is increasing
- The way people buy health insurance is undergoing a revolutionary shift
- Healthcare costs rising much slower than anticipated
- The consumer
- Cost is most important factor for consumers in general
- Opportunity for more awareness of exchanges
- Customization leads to satisfaction
- A quality customer service experience builds partnership and trust
- Women look at cost, men at service
- Nearly half of those aged 25-34 filed claims online
- Parents seek new plans
- What we think
Issues and Insights
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- Can health insurance providers keep consumers happy in face of rising costs?
- The issues
- The implications
- How can providers sell convenience and service?
- The issues
- The implications
- How can providers meet the needs of Hispanics?
- The issues
- The implications
Trend Application
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- Trend: Help Me Help Myself
- Trend: Make it Mine
- Trend: Cam Cam
Market Size
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- Key points
- Fewer Americans without health insurance
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- Figure 1: Percentage of Americans without health insurance for the entire year, 2003-13
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- Figure 2: Percentage of Americans without health insurance for the entire year, by age, 2002 and 2013
- Employer-based coverage represents majority of care
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- Figure 3: Source of health insurance coverage for Americans with health insurance for at least part of the year, 2013
Market Drivers
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- Key points
- Unemployment falls below 6%
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- Figure 4: US unemployment rate, January 2012-March 2015
- Aging of America
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- Figure 5: Population estimates, by age, 2015, 2020, 2025, 2030, and 2035
- Healthcare costs rising much slower than anticipated
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- Figure 6: Consumer Price Index for all urban consumers: Healthcare, percentage change from previous year, 1979-2015
- Anthem data breach highlights need for electronic security
Competitive Context
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- Key points
- Private exchanges may revolutionize the way employees purchase insurance
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- Figure 7: Public versus private exchange annual enrollment forecast, 2014-18
Innovations and Innovators
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- Key points
- Wearable technology helps consumers engage with their health
- Apple Watch
- DexCom App demonstrates how Apple Watch can provide tangible health benefits
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- Figure 8: Blue Cross Blue Shield of Illinois, LifeTimes email, 2015
- CVS, Walmart expanding walk-in clinics
- Innovative medical service delivery
- Pact Health combines cash rewards and punishment to promote wellness
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- Figure 9: Pact Health Screenshot, 2015
Marketing Strategies
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- Overview of the brand landscape
- Providers marketing their technology capabilities
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- Figure 10: Aetna direct mail, 2015
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- Figure 11: Anthem Blue Cross Blue Shield email, 2015
- Figure 12: UnitedHealthcare online ad, 2015
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- Figure 13: Blue Cross Blue Shield federal employee program direct mail, 2015
- Providers stress more access to physicians
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- Figure 14: Anthem Blue Cross Blue Shield direct mail, 2015
- Figure 15: Aetna online ad, 2015
- Marketing for healthful living focuses on partnership and incentives
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- Figure 16: Aetna direct mail, 2015
- Figure 17: Cigna online ad, 2015
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- Figure 18: Cigna print ad, 2015
- Humana strategy aims to make consumers feel more secure about data
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- Figure 19: Humana statement mailing, 2015
- Emphasizing low cost and savings a relevant strategy
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- Figure 20: Human print ad, 2015
Type of Health Insurance Coverage
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- Key points
- Employer-sponsored health insurance plans remain most popular
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- Figure 21: Type of health insurance coverage, March 2015
- 25-44-year-olds most likely to purchase individual insurance
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- Figure 22: Type of health insurance coverage, by age, March 2015
- Employer-sponsored care commonplace among more affluent
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- Figure 23: Type of health insurance coverage, by household income, March 2015
- One third of parents have individual health insurance
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- Figure 24: Type of health insurance coverage, by presence of children, March 2015
- Employer-sponsored plans get strong reviews
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- Figure 25: Type of health insurance coverage, by attitudes regarding health insurance, March 2015
Purchasing Decision Factors
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- Key points
- Cost matters to consumers
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- Figure 26: Most important purchasing factors, by gender, March 2015
- Those aged 55+ incredibly concerned about costs
- Customer experience and technology can impact insurance selection
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- Figure 27: Most important purchasing factors, by age, March 2015
- Affluent consumers concerned about cost and seek more technology
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- Figure 28: Most important purchasing factors, by household income, March 2015
- Parents more likely to consider services
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- Figure 29: Most important purchasing factors, by presence of children, March 2015
Health Insurance Purchase Behaviors
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- Key points
- Opportunity for increased awareness of online exchanges
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- Figure 30: Health insurance purchasing behaviors, March 2015
- Older consumers content with plans
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- Figure 31: Health insurance purchasing behaviors, by age, March 2015
- Parents in the market for new plan
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- Figure 32: Health insurance purchasing behaviors, by presence of children, March 2015
- Customizable plans leading to satisfied consumers
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- Figure 33: Health insurance purchasing behaviors, by most important purchasing factors, March 2015
Impact of Customer Service
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- Key points
- Overall, consumers satisfied with their health insurance plans
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- Figure 34: Health insurance attitudes, March 2015
- Trust and satisfaction rises with household income
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- Figure 35: Health insurance attitudes, by household income, March 2015
- Trust and customer service closely related
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- Figure 36: Health insurance attitudes, by most important purchasing factors, March 2015
Online and Mobile Service Deliveries are Future Trends
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- Key points
- Men more likely to use online services
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- Figure 37: Health insurance attitudes, by gender, March 2015
- Nearly half of those aged 25-34 filed claims online
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- Figure 38: Health insurance attitudes, by age, March 2015
- Parents far more likely to file claims online
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- Figure 39: Health insurance attitudes, by presence of children, March 2015
- Four out of five Hispanics signed up via ACA
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- Figure 40: Health insurance attitudes, by race/Hispanic origin – any agree, March 2015
Healthcare Spending
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- Key points
- More than one third experience cost increase
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- Figure 41: Healthcare spending, March 2015
- Cost increases more likely as income rises
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- Figure 42: Healthcare spending, by household income, March 2015
- Private exchange growth brings new risks of customer frustration
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- Figure 43: Healthcare spending, by health insurance coverage, March 2015
Wellness Plan Awareness
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- Key points
- Providers that help individuals feel healthy will build strong relationships
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- Figure 44: Interest in wellness plans, March 2015
- Majority of women aware of stress reduction such as yoga or massage
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- Figure 45: Interest in wellness plans, by gender, March 2015
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- Figure 46: Awareness of Wellness Plans – CHAID – Tree output, March 2015
- Incentives for healthier living universally desired
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- Figure 47: Awareness of wellness plans, by household income, March 2015
- Half of Hispanics seek help with eldercare support
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- Figure 48: Awareness of wellness plans, by race/Hispanic origin, March 2015
- Those with individual insurance more aware of stress reduction plans
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- Figure 49: Awareness of wellness plans, by type of insurance coverage, March 2015
Appendix: Trade Associations
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- AARP (formerly American Association of Retired Persons)
- America’s Health Insurance Plans (AHIP)
- American Medical Association (AMA)
- Independent Insurance Agents & Brokers of America Inc.
- Insurance Information Institute (III)
- The Kaiser Family Foundation
- National Association of Health Underwriters (NAHU)
- National Association of Insurance Commissioners (NAIC)
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