More people looking to buy health insurance say they would shop for coverage through a health insurance exchange if they had the opportunity, according to a J.D. Power and Associates health plan study released Tuesday.
A majority of health plan members who purchase insurance on their own say they would likely use one of the state health insurance exchanges (55 percent), while 39 percent of those covered under an employer-sponsored program indicate they would shop for insurance through an exchange if it were available.
And more, the study finds there's an increased level of interest in state-sponsored health insurance exchanges compared to last year. In 2012, 37 percent of health plan members say they wouldn't likely use an exchange, compared with 50 percent in 2011 who expected to continue obtaining coverage at work.
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"Health insurance exchanges are meant to appeal to individuals who must buy coverage on their own, yet the level of interest among those who obtain health insurance at work could have important implications for the future of employer-sponsored coverage," says Rick Millard, senior director of the healthcare practice at J.D. Power and Associates. "Satisfaction among some health plan members may be low enough that an alternative, direct retail model could become more attractive than traditional wholesale purchasing by employers."
The study also finds substantial interest among health plan members in private health insurance exchanges, in which an employer might provide employees with vouchers for purchasing health insurance independently. Approximately 41 percent of employer-insured health plan members indicate they would use this approach if it were available.
Millard says the private exchange model could further erode reliance on obtaining health insurance at work.
"Creating new channels for purchasing insurance could trigger more changes," he says. "It could mean more attention will be paid to direct purchasers, and also make higher levels of satisfaction critically important for health plans that strive to acquire and retain members."
In 2012, overall member satisfaction averages 702 on a 1,000-point scale, compared with 696 in 2011. There are notable gains in the information and communication; statements; and claims processing factors.
"Health plans that excel in member satisfaction know how to create simpler benefit designs that members perceive to be consistent and dependable," Millard says. "As health insurance exchanges take hold and consumer shopping for coverage increases, it will become even more critical for plans to communicate in clear and concise ways."
In its sixth year, the J.D. Power and Associates U.S. Member Health Plan Study measures member satisfaction among 141 health plans in 17 regions throughout the United States by examining seven factors: coverage and benefits; provider choice; information and communication; claims processing; statements; customer service; and approval processes.
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