Boston, February 23, 2017 – Health plans’ consumer-direct sales are exploding. This is fueled by their core insurance products and supplemental designs targeting every generation. As individual memberships swell, health plans can no longer underestimate the revenue risks tied to non-payment for their products. Plans that deploy stronger collection techniques stand to better top- and bottom-line results, but can they also add a critical piece to member-engagement strategies?
This report sizes the 2016 health insurance bill numbers and gross dollar volume by payment methods and channels, and uncovers insights into how all generations—millennials, Gen Xers, baby boomers, and seniors—conduct bill payment activities, including one-time versus recurring payments. It is based on a sample of 1,077 consumers who indicated in a Q3 2016 Aite Group survey that their household paid a health insurance bill (health insurance premium) directly to a health plan and not through a payroll deduction.
This 35-page Impact Report contains 31 figures and five tables. Clients of Aite Group’s Health Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.