Interest rising for health insurance exchange market

Posted on: Tuesday, March 20, 2012

Agents' insurance prospecting efforts could soon be rewarded, as a recent survey suggests more consumers would consider switching plans once health insurance exchanges become available.

The report - "U.S. Member Health Plan Study" - which was conducted by J.D. Power and Associates, found 55 percent of insurance customers who purchase their own coverage would likely use one of the state's health insurance exchanges. Approximately 40 percent of consumers who are covered through their employer would also shop through an exchange.

In addition to more people who may be purchasing coverage through exchanges, the report also found increased interest in health insurance exchanges.

Rick Millard, senior director of the healthcare practice at J.D. Power, said these state-sponsored programs could impact the way in which coverage is obtained.

"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," said Millard.

He added that a lot will depend on how satisfied consumers are with their current plans.

Posted In: Insurance News, Health Insurance

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