How do you
ensure clients
are über satisfied?
15
15
NEW EMPLOYER VALUE PROPOSITION
Higher
Expectations
The one-two punch of demographic change, with
the coming age of MILLENNIALS... and consumers
paying more for their health care is ACCELERATING
increased expections regarding quality of service that
will force both providers and insurers to change.
16
NEW EMPLOYER VALUE PROPOSITION
Experiences with
health insurance
providers should be:
- Online & Mobile
- Engaging
- Personalized
- Fast
- Transparent
- Simple
- Consistent
17
NEW EMPLOYER VALUE PROPOSITION
Future of
benefits delivery:
TIME TO GET ON
THE EXCHANGE TRAIN
HERE’S A VISIT FROM THE GHOST
OF EMPLOYEE BENEFITS PAST:
HERE’S A VISIT FROM THE GHOST
OF EMPLOYEE BENEFITS FUTURE:
Employer-provided, face-to-face
enrollment, 1-2 health plan options,
check-the-box mentality and little
understanding of product or plan scope.
Higher-deductible plans, defined
contributions, extensive choice in plans,
sophisticated decision tools, transparent
data & pricing, and total consumer control.
Can you imagine delivering the next
generation consumer experience any
other way than through an exchange?
18
18
NEW EMPLOYER VALUE PROPOSITION
Exchanges
are the platform
of the future.
19
19
NEW EMPLOYER VALUE PROPOSITION
Choice.
They facilitate offering a large number
of plans and a combination of
MEDICAL & SUPPLEMENTAL PLANS.
Ability.
They have been proven to reduce employers’ healthcare
costs. The average annual health cost increase was
2.6% OVER TWO YEARS, compared to industry
projections of 6.5% TO 8%.4
20
NEW EMPLOYER VALUE PROPOSITION
Decision-support.
They offer the same kinds of decision-making tools
consumers use on purchasing [or retail] sites like
Amazon. They support the PERSONALIZED,
robust decision-making support consumers
NEED AND DEMAND.
Engaging.
They take a traditionally episodic purchase
and create a consumer environment that keeps
consumers engaged, using CALCULATORS
& EDUCATIONAL RESOURCES.
ROADMAP 2025
STUDY INSIGHTS:
86%
of employees were
satisfied with the
decisions they made
regarding health
care coverage when
used a public/private
exchange.
21
21
NEW EMPLOYER VALUE PROPOSITION
When perception
isn’t reality.
Many employees are hesitant to
LET GO OF THE CONCEPT OF
TRADITIONAL BENEFITS, however
the majority of those who have experience
with exchanges are satisfied with
their experience.
ROADMAP 2025
STUDY INSIGHTS:
49%
of workers who have
used a private or
public exchange say
they were extremely/
very satisfied.3
22
Brokers will play
a vital role in keeping
employers’ move to
exchanges from derailing.
23
NEW EMPLOYER VALUE PROPOSITION
Will benefits
remain a competitive 80%
differentiator?
ROADMAP 2025
STUDY INSIGHTS:
Much speculation has been made about the FUTURE
of traditional, employer-sponsored health plans. Some
believe the days of Americans getting health insurance
through their employers MAY BE NUMBERED.
Others are confident employer-sponsored benefits will
be a competitive differentiator and a key component of
their ability to attract and retain talent.
of companies
believe an
employers’ benefits
package will remain
a competitive
differentiator in
attracting and
retaining talent in
the future.
24
NEW EMPLOYER VALUE PROPOSITION
the 2025 Employer
Value Proposition:
Best Benefits-Decision Support
As more consumers take the reins, and more employers
move to a defined contribution plan, THE NEW
VALUE PROPOSITION MAY COME DOWN
TO HOW WELL A COMPANY SUPPORTS
THEIR BENEFIT DECISION-MAKING from
information, customization, ease of use, simplicity to their
experience and satisfaction with the process.
ROADMAP 2025
STUDY INSIGHTS:
46%
of workers said
they have complete
confidence in the
decision they made
during their last
open enrollment
for benefits.3
A Center for Advancing Health Study showed that
CONSUMERS HAVE TO MAKE 41 MAJOR DECISIONS AT ONE TIME
when faced with a health care issue.5
25
NEW EMPLOYER VALUE PROPOSITION
Successful
brokers anticipate
transformation.
Let’s argue for one minute that we’re right.
That THE NEW COMPETITIVE DIFFERENTIATOR FOR
COMPANIES WILL COME DOWN TO THEIR CAPABILITIES
AROUND BENEFITS DECISION-MAKING and the experience of
employees in managing their healthcare.
26
NEW EMPLOYER VALUE PROPOSITION
The evolution
is already
underway.
Consider that an employees’ PERCEPTION OF THEIR
EMPLOYER IS ALREADY TIED TO THE DECISIONS
COMPANIES MAKE ABOUT THEIR BENEFITS.
ROADMAP 2025
STUDY INSIGHTS:
40%
workers agree that a
poor experience with
a health insurance
carrier would make
them feel negative
toward their
employer.3
27
NEW EMPLOYER VALUE PROPOSITION
TRUST:
When perception
is reality
Problem is, today ONLY 37 PERCENT3 of workers agree that their
employer has their best interest in mind when making decisions
about health insurance and benefits.
And, ONLY 23 PERCENT3 strongly agree that they trust the
information and decision-making tools their employer provides
during their health insurance enrollment process.
28
NEW EMPLOYER VALUE PROPOSITION
So here’s
where we are:
AN OPPORTUNITY EXISTS for employers to DIFFERENTIATE
THEMSELVES through health care decision-making and
experience, ESPECIALLY WHEN THE LINES AROUND
SPECIFIC HEALTH INSURANCE PLANS ARE BLURRING.
29
SOURCES
N160008C
1.
Mashable.
“Beyond Millennials: How to Reach Generation Z”.
Accessed on January 20, 2016, from
http://mashable.com/2014/08/20/generation-z-marketing/#iRWBqPbIPPqs
2.
McCann Worldgroup.
“The Truth about Youth” study.
Accessed on January 14, 2016, from
http://www.prnewswire.com/news-releases/todays-global-youth-would-give-up-theirsense-of-smell-to-keep-their-technology-122605643.html
3.
Aflac. “Healthcare 2025 study.”
Conducted by Research Now on behalf of Aflac, and fielded online in the United States
between July 23 and July 28, 2015, capturing responses from 1024 employers and
2047 consumers.
4.
Forbes (May 6, 2015). “As They Grow,
Private Health Exchanges Kept Costs Low In Year Two”.
Accessed on January 14, 2016, at
http://www.forbes.com/sites/brucejapsen/2015/05/06/in-year-two-private-exchangekept-health-costs-below-norm/#2715e4857a0b23fab9b8d559
5.
Center for Advancing Health, 2010. “A New Definition of Patient
Engagement: What is Engagement and why is it Important?”
Accessed on January 14, 2016, at
http://www.cfah.org/pdfs/CFAH_Engagement_Behavior_Framework_current.pdf
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