Consumers at the Holiday Table
Conversation at the holiday table taught us that American consumers have different needs when it came to their health care coverage and the choices they made. Here were a few examples:
- Budget mindful. Newlyweds each had employer-sponsored insurance coverage. After one lost his job, they both enrolled in the same plan during open enrollment. The couple was anxious because the cost of one “employee plus one” plan was significantly more expensive than the cost of two “single” plans.
- Medically needy. An eighty-year-old found it difficult to obtain care in a Medicare Advantage plan with a limited network. He switched back to Traditional Medicare during open enrollment to have a broader provider network. He was frustrated that supplement plans denied enrollment because of his pre-existing conditions.
- Provider picky. During an out-of-town trip, a Traditional Medicare beneficiary with a supplement plan had a medical emergency. He was grateful to obtain care at premier facilities in different cities. Both facilities used Epic’s electronic health system, and he was able to access his medical information in MyChart.
- Satisfaction savvy. A couple enrolled in a federal marketplace plan for many years. One recently suffered a medical complication that required specialty care and medications. The couple was exhausted because of the amount of time and effort it took to get authorizations approved by their insurance carrier.
- Security conscious. A family of five with a single earner enrolled in an employer-sponsored health plan. The parents were concerned that their monthly premiums and out-of-pocket costs were increasing in 2024. They also believed that coverage was an important part of their family’s financial health.
Over the holidays, families and friends shared that their personal needs and financial circumstances drove their health plan choices. In other words, these consumers are Mastering Health Insurance.
- Source: Asparity Decision Solutions
- Photo: Winter in Lincoln Park