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Health Insurance - US - June 2015

Health Insurance - US - June 2015

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SCOPE AND THEMES
What you need to know
Data sources
Market size data
Consumer survey data
Consumer qualitative research
Direct marketing creative
Abbreviations and terms
Abbreviations
Terms
EXECUTIVE SUMMARY
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
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
Trend: Help Me Help Myself
Trend: Make it Mine
Trend: Cam Cam
MARKET SIZE
Key points
Fewer Americans without health insurance
Figure 1: Percentage of Americans without health insurance for the entire year, 2003-13
Figure 2: Percentage of Americans without health insurance for the entire year, by age, 2002 and 2013
Employer-based coverage represents majority of care
Figure 3: Source of health insurance coverage for Americans with health insurance for at least part of the year,
2013
MARKET DRIVERS
Key points
Unemployment falls below 6%
Figure 4: US unemployment rate, January 2012-March 2015
Aging of America
Figure 5: Population estimates, by age, 2015, 2020, 2025, 2030, and 2035
Healthcare costs rising much slower than anticipated
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
Key points
Private exchanges may revolutionize the way employees purchase insurance
Figure 7: Public versus private exchange annual enrollment forecast, 2014-18
INNOVATIONS AND INNOVATORS
Key points
Wearable technology helps consumers engage with their health
Apple Watch
DexCom App demonstrates how Apple Watch can provide tangible health benefits
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
Figure 9: Pact Health Screenshot, 2015
MARKETING STRATEGIES
Overview of the brand landscape
Providers marketing their technology capabilities
Figure 10: Aetna direct mail, 2015
Figure 11: Anthem Blue Cross Blue Shield email, 2015
Figure 12: UnitedHealthcare online ad, 2015
Figure 13: Blue Cross Blue Shield federal employee program direct mail, 2015
Providers stress more access to physicians
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
Figure 16: Aetna direct mail, 2015
Figure 17: Cigna online ad, 2015
Figure 18: Cigna print ad, 2015
Humana strategy aims to make consumers feel more secure about data
Figure 19: Humana statement mailing, 2015
Emphasizing low cost and savings a relevant strategy
Figure 20: Human print ad, 2015
TYPE OF HEALTH INSURANCE COVERAGE
Key points
Employer-sponsored health insurance plans remain most popular
Figure 21: Type of health insurance coverage, March 2015
25-44-year-olds most likely to purchase individual insurance
Figure 22: Type of health insurance coverage, by age, March 2015
Employer-sponsored care commonplace among more affluent
Figure 23: Type of health insurance coverage, by household income, March 2015
One third of parents have individual health insurance
Figure 24: Type of health insurance coverage, by presence of children, March 2015
Employer-sponsored plans get strong reviews
Figure 25: Type of health insurance coverage, by attitudes regarding health insurance, March 2015
PURCHASING DECISION FACTORS
Key points
Cost matters to consumers
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
Figure 27: Most important purchasing factors, by age, March 2015
Affluent consumers concerned about cost and seek more technology
Figure 28: Most important purchasing factors, by household income, March 2015
Parents more likely to consider services
Figure 29: Most important purchasing factors, by presence of children, March 2015
HEALTH INSURANCE PURCHASE BEHAVIORS
Key points
Opportunity for increased awareness of online exchanges
Figure 30: Health insurance purchasing behaviors, March 2015
Older consumers content with plans
Figure 31: Health insurance purchasing behaviors, by age, March 2015
Parents in the market for new plan
Figure 32: Health insurance purchasing behaviors, by presence of children, March 2015
Customizable plans leading to satisfied consumers
Figure 33: Health insurance purchasing behaviors, by most important purchasing factors, March 2015
IMPACT OF CUSTOMER SERVICE
Key points
Overall, consumers satisfied with their health insurance plans
Figure 34: Health insurance attitudes, March 2015
Trust and satisfaction rises with household income
Figure 35: Health insurance attitudes, by household income, March 2015
Trust and customer service closely related
Figure 36: Health insurance attitudes, by most important purchasing factors, March 2015
ONLINE AND MOBILE SERVICE DELIVERIES ARE FUTURE TRENDS
Key points
Men more likely to use online services
Figure 37: Health insurance attitudes, by gender, March 2015
Nearly half of those aged 25-34 filed claims online
Figure 38: Health insurance attitudes, by age, March 2015
Parents far more likely to file claims online
Figure 39: Health insurance attitudes, by presence of children, March 2015
Four out of five Hispanics signed up via ACA
Figure 40: Health insurance attitudes, by race/Hispanic origin – any agree, March 2015
HEALTHCARE SPENDING
Key points
More than one third experience cost increase
Figure 41: Healthcare spending, March 2015
Cost increases more likely as income rises
Figure 42: Healthcare spending, by household income, March 2015
Private exchange growth brings new risks of customer frustration
Figure 43: Healthcare spending, by health insurance coverage, March 2015
WELLNESS PLAN AWARENESS
Key points
Providers that help individuals feel healthy will build strong relationships
Figure 44: Interest in wellness plans, March 2015
Majority of women aware of stress reduction such as yoga or massage
Figure 45: Interest in wellness plans, by gender, March 2015
Figure 46: Awareness of Wellness Plans – CHAID – Tree output, March 2015
Incentives for healthier living universally desired
Figure 47: Awareness of wellness plans, by household income, March 2015
Half of Hispanics seek help with eldercare support
Figure 48: Awareness of wellness plans, by race/Hispanic origin, March 2015
Those with individual insurance more aware of stress reduction plans
Figure 49: Awareness of wellness plans, by type of insurance coverage, March 2015
APPENDIX: TRADE ASSOCIATIONS
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)
US METHODOLOGY
CONSUMER RESEARCH
Primary Data Analysis
Secondary Data Analysis
Qualitative Research
Further Analysis
Social Media Research
TRADE RESEARCH
STATISTICAL FORECASTING

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