The Changing Landscape of the Health Insurance Market (2010)

The Changing Landscape of the Health Insurance MarketAetna AARP Agent Advisory Council

San Antonio, Nov. 8, 2010

By Rey Villar, Norvax/GoHealth

LinkedIn: #reynaldovillar | Twitter: @reyvillar | Slideshare: slideshare.net/reyvillar

Luck is what happens when preparation meets opportunity.

- Seneca


The New Landscape

• Turbulence• Fear• Pressure• Powerlessness


ACA Isn’t the Real Problem to Fear

What happened to…

• Travel agents?• Mortgage

brokers?• Real estate

agents?

The Internet happened!

Nine out of every 10 individual health insurance plan sold in 2011 will be initiated or completed online.

- Celent Research, 2008


US Individual Health Insurance Policies Sold (2007 – 2011)


Google Search Volume by Keyword (Avg. US monthly searches, 2010)


• “Medicare”: 1,830,000• “Medicare Advantage” and

“Medigap”: 74,000 • “Health Insurance Exchange”:

3,600• “Health Insurance”: 3,350,000• “Health Insurance Quotes”:

201,000• “Affordable Health Insurance”:

135,000

Visits to Health Insurance Sites Declining, but Visits to Insurance Info Sites Increasing



Luck is what happens when preparation meets opportunity.

- Seneca


Opportunity is here!

Let’s look at some numbers...


17 Million

currently in individual health insurance market


17 Millioncurrently in individual health insurance market

30 Millionmore once guaranteed issue arrives




15 millionwill qualify for subsidies




15 Millionmore health insurance shoppers will now be looking



15 millionmore health insurance shoppers will now be looking

32 Million!Your individual market just doubled


32 Millionprevious + new additions to market

51 Million currently in small group market

Estimate 25% leakage into exchanges


32 Millionprevious + new additions to market

+13 Millionleakage from group to individual health insurance market


45 Million!

Projected market size of individual health insurance market

4 Keys to Survival in the New Health Insurance Landscape


• Greater Efficiency

• Higher Productivity

• Diversified Offering

• Online Marketing

Success-Oriented Toolbox


• Greater Efficiency• Quoting tool• E-applications

• Higher Productivity• Email autoresponders• Desktop sharing

• Diversified Offering• Ancillary products• Presentation framework


Do you want fries with that?

Diversified Offering


How will you be helping health insurance shoppers?

• Life insurance• Critical illness• Accident• Annuities• Property and casualty

3 Pillars of Online Marketing


Healthcare

The Changing Landscape of the Health Insurance Market (2010)