Cross Tabs by Employer Size

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1 Cross Tabs by Employer Size From MarketVision The Employer Viewpoint after PPACA November 2012 This material is the property of Eastbridge Consulting Group[, Inc. Eastbridge license this information to clients for internal use only. Client companies, by accepting this material, agree to protect it from being disseminated in any form to any other company, to individuals who are not employees of their company (even if that person works for a company related through common ownership), or any third party. As a result of receiving this information, you accept this responsibility completely, and you understand that any dissemination without the explicit permission of Eastbridge Consulting Group, Inc. can result in serious damage (both financial and other) to Eastbridge. By receiving this document, you agree to abide by the licensing agreement and to inform all others, with whom you share this information, of their obligations under the license agreement. 1

2 Segment Penetration Employers Offering at Least One Voluntary Product New penetration seems to be coming from under 500 lives market. Over 500 employees, it seems like there is more shifting of business between carriers. 2

3 Segment Trends: Exchanges PPACA Impact on Benefits Likely Use of Exchanges Use exchanges for health coverage only 11% 8% 7% 7% Use exchanges for health and dental coverage 5% 7% 8% 5% Use exchanges for health, dental and other types of coverage 20% 18% 21% 18% Use exchanges for dental coverage only 0% 1% 1% 0% Use exchanges for all current coverages other than health 3% 4% 4% 2% There is little to no chance that we would send our employees to the exchanges 43% 40% 32% 23% We do not yet know what we will do 18% 22% 27% 45% 3

4 Segment Trends: Distribution 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 59% Percent of Employers Using a Broker 90% 88% 89% ,000 2,001+ Employee Size 4

5 Segment Trends: Distribution (continued) 50% Broker s Role 45% 40% 35% 30% 25% 20% 15% Recommends Presents alternatives Does Research Trusted Advisor Other 10% 5% 0% ,000 2,001+ 5

6 Segment Trends: Distribution (continued) 40% Preferred Broker for New Voluntary 35% 30% 25% 20% 15% Medical Broker Other EE Benefits Voluntary Broker Co Rep Doesn't matter 10% 5% 0% ,000 2,001+ 6

7 Segment Trends: Enrollment Voluntary group meetings 49% 52% 61% 62% Mandatory group meetings 16% 29% 15% 20% Group meetings followed by a one-on-one meeting with each employee 29% 25% 31% 43% One-on-one meeting with a sales rep on company time 21% 20% 17% 28% Literature sent by HR department 68% 59% 62% 64% Standalone computerized station (kiosk) set up within company 12% 24% 19% 43% Internet-based enrollment 46% 44% 59% 75% Telephonic (employee calls a toll-free number to enroll) 13% 17% 13% 26% Scheduled telephonic (an enroller calls the employee at a scheduled time Allowable Methods for Communicating Benefits 2% 6% 2% 8% Other 4% 6% 5% 8% 7

8 Segment Trends: Enrollment (continued) Self-enroll on paper Self-enroll at kiosk 29% 27% 22% 19% 7% 13% 7% 33% Self-enroll via a website (all products/carriers) 7% 4% 13% 23% Self-enroll via a carrier website that enrolls just that insurance company s products 29% 34% 30% 63% Enroller completes paper forms at a group meeting 10% 13% 8% 2% Enroller completes paper forms at a one-on-one meeting 5% 5% 7% 9% Enroller completes forms via computer at a group meeting 0% 5% 4% 2% Enroller completes forms via computer at a one-onone meeting 5% 0% 13% 2% HR representative enrolls Most Recent Enrollment Method 10% 13% 22% 12% Through a passive telephonic enrollment (IVR) 0% 0% 1% 2% Through a live call center where the employee initiates the call 0% 1% 2% 14% Through a live call center where the employee is called at a pre-scheduled time 2% 0% 0% 0% 8

9 Segment Trends: Enrollment (continued) Self-enroll on paper 14% 9% 9% 7% Self-enroll at kiosk 24% 25% 26% 42% Self-enroll via a website (all products/carriers) 15% 21% 30% 28% Self-enroll via a carrier website that enrolls just that insurance company s products 71% 60% 62% 70% Enroller completes paper forms at a group meeting 2% 3% 1% 0% Enroller completes paper forms at a one-on-one meeting Enroller completes forms via computer at a group meeting Enroller completes forms via computer at a one-onone meeting 3% 3% 6% 5% 3% 8% 8% 5% 10% 3% 11% 5% HR representative enrolls 15% 9% 21% 7% Through a passive telephonic enrollment (IVR) 3% 0% 1% 5% Through a live call center where the employee initiates the call Through a live call center where the employee is called at a pre-scheduled time Preferred Enrollment Method 5% 8% 9% 14% 0% 0% 0% 0% 9

10 Segment Trends: Enrollment (continued) Importance of Enrollment Services in Choosing a Carrier (Percent 4 or 5, Very or Extremely Important) The carrier will help with enrolling employees Availability of personalized enrollment materials for employees 39% 52% 52% 58% 73% 82% 80% 81% Quality of materials for enrollment and communication of benefits 76% 84% 85% 88% The carrier will work with me to develop a communications and enrollment strategy 53% 73% 75% 72% 10

11 Segment Trends: Enrollment (continued) Enrolling Core and Voluntary All benefits enrolled at same time, on same platform All benefits enrolled at same time but on separate platforms Voluntary enrolled separate from core and we prefer it this way Voluntary enrolled separate from core but we would prefer it at one time 61% 45% 41% 30% 20% 34% 46% 53% 14% 16% 9% 16% 5% 5% 5% 0% 11

12 Segment Trends: Enrollment (continued) Who Handled the Last Voluntary Enrollment Broker Carrier Enrollment Firm Internal Staff Other Don t know 8% 13% 13% 2% 32% 36% 38% 35% 0% 5% 17% 30% 49% 38% 27% 26% 7% 5% 2% 7% 3% 3% 4% 0% 12

13 Segment Trends: Carriers Number of Voluntary Carriers Only 1 64% 41% 17% 18% 2 or 3 24% 41% 62% 43% 4 or 5 5% 15% 15% 20% More than 5 7% 3% 6% 18% 13

14 Segment Trends: Carriers (continued) Other Coverage from Voluntary Carrier No other coverages 51% 31% 30% 30% Medical Insurance 19% 18% 23% 12% One or more of the core products 30% 51% 57% 58% 14

15 Segment Trends: Product Voluntary Benefits Offered EEs EEs 501-1,000 EEs ,000 EEs 2,000+ EEs WL/UL 20% 38% 45% 36% 44% Term 9% 21% 13% 21% 15% Any Life 8% 16% 12% 12% 10% AD&D 27% 38% 48% 43% 39% Accident 23% 33% 30% 26% 15% STD 13% 15% 14% 19% 19% LTD 13% 16% 26% 21% 19% Cancer 17% 33% 29% 29% 20% Critical Illness 16% 36% 28% 21% 25% Rx 24% 15% 13% 14% 10% Vision 25% 20% 4% 12% 10% Dental 30% 17% 13% 17% 7% LTC 15% 31% 32% 24% 34% Hospital Indemnity 24% 33% 38% 21% 27% 15

16 Segment Trends: Products (continued) Number of Voluntary Products Offered Only More than 5 18% 13% 4% 11% 10% 19% 22% 18% 11% 18% 22% 16% 16% 11% 26% 24% 16% 12% 7% 18% 10% 14% 24% 21% 15% 7% 18% 24% 39% 13% 16

17 Segment Trends: Product (continued) Benefits Not Offered on Any Basis EEs EEs 501-1,000 EEs ,000 EEs 2,000+ EEs WL/UL 65% 34% 23% 29% 36% Term 22% 13% 7% 2% 5% Any Life 17% 6% 1% 0% 2% AD&D 41% 18% 10% 10% 10% Accident 36% 26% 19% 21% 25% STD 16% 2% 6% 7% 5% LTD 21% 7% 6% 5% 5% Cancer 78% 63% 65% 67% 76% Critical Illness 82% 59% 64% 71% 73% Rx 5% 3% 3% 0% 5% Vision 11% 3% 7% 2% 0% Dental 7% 4% 3% 5% 0% LTC 74% 58% 59% 64% 54% Hospital Indemnity 72% 61% 49% 67% 63% 17

18 Segment Trends: Product (continued) EEs EEs 501-2,000 EEs 2,001+ EEs Dental insurance 18% 18% 26% 25% Long-term disability insurance 8% 14% 29% 24% Vision coverage 15% 20% 26% 24% AD&D or travel insurance 17% 16% 21% 24% Term life insurance 14% 20% 22% 19% Short-term disability insurance 14% 13% 18% 17% Long-term care insurance 8% 10% 18% 16% Accident insurance 18% 16% 17% 16% Cancer/dread disease insurance Whole or universal life insurance 19% 23% 17% 15% 15% 13% 13% 13% Critical illness insurance 13% 14% 11% 12% Supplemental medical insurance Voluntary Product Ownership Percent of Employed Americans 9% 12% 13% 10% Hospital indemnity insurance 15% 9% 12% 10% Prescription drug coverage 14% 10% 9% 9% 18

19 Segment Trends: Product (continued) 12% Likelihood of Changes Percent Very Likely or Likely 10% 10% 8% 6% 4% 7% 6% 6% 5% 4% 2% 2% 2% 0% Move benefit to voluntary Add a new voluntary benefit 19

20 Segment Trends: Administration Importance of Online Services Critical, would not select a carrier unless they provide 41% 45% 36% 74% Important, would definitely influence the carrier decision 29% 35% 42% 7% Somewhat important, all other things being equal, would go with carrier that offers this 29% 13% 17% 12% Not important, this doesn t matter 2% 6% 5% 7% 20

21 Segment Trends: Administration (continued) Payroll Vendor Use Percent Using a Payroll Service/Vendor 47% 61% 57% 75% We do not want the carrier to interface with the payroll vendor; we prefer to handle it ourselves. 58% 38% 51% 17% For voluntary only, we prefer the carrier(s) to work directly with the payroll vendor. 12% 17% 13% 14% For all employee benefits, we prefer the carriers to work directly with the payroll vendor for all employee contributions and just bill me for the employer contribution 30% 45% 36% 69% 21

22 Segment Trends: Administration (continued) Core and Voluntary Billing Prefer separate bill for voluntary 32% 29% 27% 19% Prefer carrier to bill both core and voluntary on the same bill 46% 56% 57% 59% No preference 21% 15% 16% 22% 22

23 Segment Trends: Administration (continued) Advance vs. Arrears Billing Strongly prefer advance Prefer advance No preference Prefer arrears Strongly prefer arrears 12% 8% 3% 5% 17% 23% 22% 35% 28% 18% 18% 16% 33% 31% 45% 28% 10% 19% 12% 16% Total preferring advance Total preferring arrears 29% 31% 25% 40% 43% 50% 57% 44% 23

24 Segment Trends: Administration (continued) Individual Record-Keeping Strongly prefer to be responsible for keeping the records 14% 10% 12% 9% Prefer to be responsible for keeping the records 36% 23% 17% 16% No preference 14% 13% 14% 14% Prefer the insurance carrier be responsible for keeping the records 31% 39% 53% 40% Strongly prefer the insurance carrier be responsible for keeping the records 7% 14% 4% 21% Total preferring to handle themselves Total preferring carrier to handle 50% 33% 29% 25% 38% 53% 57% 61% 24

25 Questions Please send any questions to: Bonnie Brazzell Eastbridge Consulting Group, Inc. 50 Avon Meadow Lane, Avon CT

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