A Conversation About Health Insurance And Digital Marketing

Online shopping is the norm More consumers are accustomed to shopping and purchasing online for products or services involving deep consideration of price and value

Health insurance is part of this norm Parallel to online banking, consumers actively manage their accounts, deductible thresholds, access copay information, submit prescription refills and other activities connected to healthcare benefits online Consumers readily use adjunctive online healthcare resources such as appointment calendars, physician communications, healthcare / wellness resources and other applications Consumers using online venues to compare, choose and manage health benefits is an extension of normal web use

The market continues to change Health insurance is a continually evolving marketplace as consumer habits / needs, commercial interests, government regulations and technical capabilities change With more persons eligible for health insurance due to the ACA and the concept of health insurance exchanges becoming more familiar, web-based marketing of insurance is expanding 2016 will bring advancements, challenges and opportunities for consumers, plan members, employers, employee benefit consultants, plans, healthcare providers, other stakeholders

Consumers are reading the fine print Consumers are requiring complete coverage details and cost comparison data from a variety of health insurance providers via online resources: o Dental o Life o Long Term Care o Medical o Pharmacy o Vision

Consumers want online convenience Concerned about care, coverage and cost, consumers favor sites with easy navigation, useful resources and comparative functions which generate easy to understand results Health plans marketed / supported via highly functional websites fortified with easy to access, well-organized, detailed content are deploying a competitive advantage over other plans with less developed digital capabilities o ipad and mobile-friendly apps are the new norm to effectively reach consumers

Online positions of other stakeholders Employers are increasingly relying on digital resources to manage benefit information, enrollment and administration in 2016; it reduces administrative burden, increases uniformity of data, quickens enrollment, lowers costs Employee benefit consultant firms are investing in online venues such as operating exchanges on their own and / or on behalf of employer clients Insurance carriers, managed care plans and brokerages are fortifying digital resources to support, quantify and improve marketing / sales outreach and plan management

Employers cultivate exchange concept Healthcare reform promotes portability of health insurance coverage; as workers move to different employers and / or elect to find competitively priced benefits on their own, they readily obtain health insurance information and can purchase coverage through accessing an exchange

Employers cultivate exchange concept Employers are moving away from a defined benefit model (where employers provide a fixed set of benefits to workers) to a defined contribution model (where employers offer a set amount of money to employees to purchase plans). o This type of arrangement provides employees with a specified budget to choose their own benefit plans based on their own preferences o Employers are able to budget expenditures for benefit coverage more closely and devote less resources to the administration of employee benefits

Exchange examples Employee benefit consultant exchanges o AON Hewitt - Corporate Health Exchange o Mercer - Marketplace o Willis Towers Watson - One Exchange o Xerox Human Resources - RightOpt

Exchange examples Independent health insurance exchanges include: o ehealth Insurance Services o GoHealth o GetInsured o BB&T s CarePlus Standard Exchange and CarePlus Custom Exchange

Health insurance exchanges evolve The concept of health insurance exchanges is increasingly familiar to consumers; they will become more established over the course of 2016 Many consumers have visited exchanges for other types of insurance and purchased through them Exchanges operated by employee benefit consultants, state governments and other interests are cultivating a growing base of consumers familiar with the health insurance exchange concept

Health insurance exchanges evolve Commercial, entrepreneurial and technology investor interests are getting more involved with health insurance exchange business models State-based health insurance exchanges are becoming more established and technically reliable although some have funding challenges The digital consumer / patient health benefit interface increases its value as a source of data for marketers based on user behavior such as number of visits, pages frequented, time spent, downloads and other interactions

Health insurance exchanges evolve For some companies, the exchange business model isn t necessary but they can adopt some of the attributes / features of exchanges within their own health benefits websites and digital initiatives For consumers / plan members, there may be a a disconnect or remoteness with exchanges as they manage their healthcare benefits through an exchange versus their employer s employee benefits department

Ongoing digital initiatives Health plans continue to substantially increase digital promotion to increase reach and frequency for better exposure in a crowded, competitive, cost-sensitive market Health plans will more efficiently manage content, flow of information shared between plan, plan members, plan sponsors and healthcare providers to facilitate services, reduce issues and collect more usable data o A critical aspect of integrated delivery network and accountable care organization provider business models

Ongoing digital initiatives Focus heavily on 2016 data analytics to sharpen content and improve marketing / sales targeting to existing members and new consumers for 2017 enrollment Reinforce security of their digital presence to maintain strong, confidential integrity of consumer, patient, clinical and financial data

Ongoing digital initiatives Plans are improving existing mobile apps and launching new ones to provide useful resources to members o Consumers increasingly rely on mobile technology resources o Apps serve as a way to maintain continual connection to members and actively engage new consumers o Provide a direct way to analyze effectiveness of promotions and messaging based on engagement data

Wearables are an extension of mobile Wearable technology offers options for plans to engage more members over the course of 2016 Wearables are moving beyond being basic fitness activity trackers; they are combing phone and wristwatch functionality and providing a growing channel of access for health plans to provide and collect information o Promotional messaging o Reminders, updates o Wellness initiatives o Personal healthcare apps

Wearables are an extension of mobile Employers and plans are exploring wearables as a way to reach consumers / plan members in real-time, better administer health-related wellness initiatives and develop additional ways to collect data for market research and cost / health analysis purposes

Summary Consumers, plan members, employers, employee benefit consultants, plans, healthcare providers increasingly converge via digital venues Plan providers with well-designed digital interfaces (for website, ipad, mobile, wearables, etc.) deploy a competitive advantage over plans with less developed offerings Analytics continue to be a central, behind-the-scenes resource for plans to assess digital engagement effectiveness and collect member data

Summary Health insurance exchanges are changing how employers, consumers and plans interface with each other Privacy/security in the digital health insurance marketplace is a leading priority Over the course of 2016 and beyond, the health insurance marketplace will continue to advance and grow in multiple digital venues

www.healthcaremedicalpharmaceuticaldirectory.com www.linkedin.com/in/johngbaresky/