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Health Insurance - US - August 2016

OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY 
The issues
Costs are still a primary concern – and they are still rising
Figure 1: Top factors in choosing health insurance, June 2016
Most consumers don’t understand the information their insurance company provides
Figure 2: Easy to get and understand information, by generation, June 2016
How will the upcoming election affect the Affordable Care Act (ACA)?
Figure 3: Attitude toward ACA, by demographics, June 2016
The opportunities
Technology-based health insurers have an opening
Figure 4: Attitudes toward health insurance and health insurance providers, by age and gender, June 2016
Customer service improvements
Figure 5: Ease and preference of communication, by generation, June 2016
Incentives may help attract and retain customers
Figure 6: Interest in financial incentives, by gender and age, June 2016
What it means
THE MARKET – WHAT YOU NEED TO KNOW
Healthcare spending continues to rise
Growth in healthcare spending as a percentage of GDP has slowed
Percentage of Americans who are uninsured is dropping
Most have employment-based coverage
The majority have medical and prescription coverage
The aging of America
Unemployment continues to be low
The presidential election may affect the ACA
MARKET SIZE AND FORECAST
Healthcare spending continues to rise
Figure 7: National health expenditures, selected years, 1960-2014
Growth in healthcare spending as a percentage of GDP has slowed
Figure 8: Healthcare spending as a percentage of GDP, selected years 1960-2014
Percentage of Americans who are uninsured is dropping
Figure 9: Percentage of Americans who are uninsured, 2004-14
MARKET BREAKDOWN
Most have employment-based coverage
Figure 10: Source of health insurance coverage for Americans with health insurance at least part of the year, 2014
The majority have medical and prescription coverage
Figure 11: Type of coverage owned, June 2016
MARKET FACTORS 
The aging of America
Figure 12: Percentage of total population, by age, selected years 2015-55
Figure 13: Anthem direct mail ad, 2016
Unemployment continues to be low
Figure 14: US unemployment rate, May 2010 –May 2016
The presidential election may affect the ACA
KEY PLAYERS – WHAT YOU NEED TO KNOW 
Most are satisfied with their health insurance plan and provider
Wellness program partnerships
Health exchanges
Online tools to manage healthcare costs are floundering
Consolidation of the industry
The role of technology in health insurance
WHAT’S WORKING?
Most are satisfied with their health insurance plan and provider
Figure 15: Attitudes toward health insurance plans and providers, June 2016
What would consumers change?
Wellness program partnerships
Figure 16: Interest in insurance savings opportunities, by generation, August 2015
WHAT’S STRUGGLING?
Health exchanges
Figure 17: Attitude toward need for health insurance, by gender and age June 2016
Online tools to manage healthcare costs are floundering
WHAT’S NEXT?
Consolidation of the industry
The role of technology in health insurance
Zoom+PHI
Clover Health
Picwell
The use of wearables is continuing to grow
Figure 18: Ownership/intent to purchase any fitness tracker, by generation, September 2015
THE CONSUMER – WHAT YOU NEED TO KNOW
Employer-sponsored is most popular
Parents more likely than non-parents to have private insurance
Health insurers need to improve communication
Young people are interested in incentives to manage their health
Cost is most important
Technology-based health insurers can benefit from desire to change
HEALTH INSURANCE OWNERSHIP
Employer-sponsored is most popular
Figure 19: Health insurance ownership, June 2016
Hispanics and Blacks are least likely to have employer-sponsored health insurance
Figure 20: Health insurance ownership, by race and Hispanic origin, June 2016
Parents more likely than non-parents to have private insurance
Figure 21: Health insurance ownership, by parental status, June 2016
TYPE OF COVERAGE OWNED
Income affects coverage
Figure 22: Insurance coverage owned, by household income, June 2016
Parents buy a greater variety of coverage
Figure 23: Insurance coverage owned, by parental status, June 2016
EASE OF WORKING WITH HEALTH INSURANCE CARRIER
Health insurers need to improve communication
Figure 24: Ease of getting information, by generation, June 2016
Figure 25: UnitedHealthcare email ad, 2016
Websites are important – and need to improve
Electronic communication better for parents
Figure 26: Communication preferences, by parental status, June 2016
Mobile apps are of more interest to Hispanics
Figure 27: Interest in mobile apps, by Hispanic origin, June 2016
Young people are interested in incentives to manage their health
Figure 28: Interest in managing health, by generation, June 2016
Most would like financial rewards
Figure 29: Believe health insurers should offer financial rewards, by generation, June 2016
High earners most likely to want financial rewards
Figure 30: Believe health insurers should offer financial rewards, by household income, June 2016
IMPORTANT FACTORS IN CHOOSING HEALTH INSURANCE
Cost is most important
Figure 31: Most important factors in choosing a healthcare plan, by generation, June 2016
Copay amounts most important to Blacks
Figure 32: Most important factors in choosing a healthcare plan, by race and Hispanic origin, June 2016
Cost is top of mind for most
ATTITUDES TOWARD HEALTH INSURANCE AND PROVIDERS
Parents are more positive about health insurers
Figure 33: Attitudes toward health insurance providers, by parental status, June 2016
Technology-based health insurers can benefit from desire to change
Figure 34: Interest in different health insurance plan, by gender and age, June 2016
Hispanics want technology and are interested in switching plans
Figure 35: Interest in different health insurance plan, by Hispanic origin, June 2016
Hispanics value health insurance more than do non-Hispanics
Figure 36: Attitudes toward health insurance, by Hispanic origin, June 2016
Figure 37: Anthem email ad, 2016
KNOWLEDGE OF THE ACA 
No growth in understanding of the ACA
Figure 38: Awareness of ACA features, April 2014, June 2016
Consumer experience with the ACA
APPENDIX – CHAID ANALYSIS
Figure 39: Interest in purchasing insurance from a technology-based company – CHAID – Tree output, June 2016
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Sales data
Consumer survey data
Consumer qualitative research
Direct marketing creative
Abbreviations and terms
Abbreviations
Terms
APPENDIX – CONSUMER 
Figure 40: Use of health monitoring devices for personal use, by demographics

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