Despite ACA Uncertainty, Five-Year Connecture Study Shows Americans Becoming More Confident Healthcare Shoppers
August 09 2017 - 9:15AM
Connecture, Inc. (NASDAQ:CNXR), a provider of web-based information
systems used to create health insurance marketplaces, today shared
key findings from their consumer survey of more than 8,000 American
adults who get health insurance either on their own, through their
employer or have Medicare. Specifically, Connecture’s analysis
includes data aggregated from annual consumer surveys the company
conducted from 2012 to 2017 – before and after the Affordable Care
Act (ACA), also known as Obamacare, went into effect. Among
compelling results is the growing confidence in consumers across
all generations to shop for health insurance online, which has
increased threefold since 2012.
“Despite uncertainty around health reform legislation and the
confusion most people face when navigating the healthcare system in
general, we’re delighted to see the steady growth in the number of
Americans using technology, including decision-support tools, to
empower themselves and get the health coverage they need,” said
Jeff Surges, president and CEO of Connecture. “This kind of
confidence and take-charge attitude underscores the true power of
technology and transparency, and sends a strong message to those of
us in the health insurance industry to keep innovating on behalf of
the consumer.”
Key findings from Connecture’s five-year consumer research
include:
- Online Shopping Skyrockets: Between 2012 and
2017, the number of Americans who have shopped online for health
insurance increased threefold, from 14 percent in 2012 to 42
percent in 2017.
- Consumers Prefer Self-Service Options: In
2017, 56 percent of Americans said they were comfortable shopping
for health insurance by themselves ‘with little or no assistance’
from friends, family and others, versus 37 percent in 2012.
- Employer-Sponsored Coverage Reaches New
Milestones: Four times as many Americans in the workforce
are leveraging online tools to shop for group or employer-sponsored
insurance (38 percent in 2017 versus 9.5 percent in 2012), and more
Americans like their benefit options offered by their employers
with 34 percent feeling ’extremely satisfied’ in 2017 versus 22
percent in 2012.
- Consumers Still Rushing Their Insurance
Decisions: Of those with employer-sponsored insurance, 59
percent indicated they would spend ‘no more than 1 hour’ to
research and choose their health plan – a short amount of time
given the long-term implications this type of decision can have for
an individual and their family.
- Consumers Are Price Shopping: While almost 50
percent of Americans stated they are ‘not sure’ what they pay in
healthcare costs each month, 80 percent said they would be
willing to talk to their doctors about prescription drug
alternatives (e.g., therapeutic alternatives) to save money.
Full Set of Research Findings Unveiled During August 10
Webinar Connecture will discuss their survey findings,
including five megatrends in the health insurance market, during
their live webinar, “Voice of the Healthcare Consumer,” on
Thursday, August 10, at 1pm ET. Register here:
http://info.connecture.com/Voice_of_Consumer_Registration.html
About ConnectureConnecture (NASDAQ:CNXR) is a
leading web-based consumer shopping, enrollment and retention
platform for health insurance distribution. Connecture offers a
personalized health insurance shopping experience that recommends
the best fit insurance plan based on an individual’s preferences,
health status, preferred providers, medications and expected
out-of-pocket costs. Connecture’s customers are health insurance
marketplace operators, such as health plans, brokers and exchange
operators, who must distribute health insurance in a cost-effective
manner to a growing number of insured consumers. Connecture’s
solutions automate key functions in the health insurance
distribution process, allowing its customers to price and present
plan options accurately to consumers and efficiently enroll, renew
and manage plan members.
Media Contacts:
Jeff Hyman
Channel Marketing Director for Connecture
(818) 415-2569
jhyman@connecture.com