Insurers will compete head-to-head when state health insurance exchanges begin offering health insurance policies to individuals and small groups in 2014, and these policies could be worth nearly $60 billion in revenue premiums by 2014 and grow to nearly $200 billion by 2019, according to a new report by the PwC US Health Research Institute.
PwC created this report based on insight from a nationwide survey of 1,000 consumers and 153 health insurance executives as well as interviews with 35 health industry leaders. Their findings include the following:
• Fifty-two percent of health insurance executives will definitely participate in the exchanges, while one-third are considering participation and 17 percent do not intend to participate.
• Insurers' number one concern is the impact of adverse selection on their business if they receive a disproportionate number of high-risk patients.
• Fifty-three percent of consumer respondents say they would not be willing to pay a higher price for any additional health insurance feature, such as dental coverage.
• Sixty-one percent of consumers said they think health insurers should offer rewards, such as discounts or gift cards for healthy behavior.
Read the news release about PwC's Change the Channel report.
Related Articles on Health Insurance Exchanges:
HHS Proposes Rules for Health Insurance Exchanges, Offer States Flexibility
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PwC created this report based on insight from a nationwide survey of 1,000 consumers and 153 health insurance executives as well as interviews with 35 health industry leaders. Their findings include the following:
• Fifty-two percent of health insurance executives will definitely participate in the exchanges, while one-third are considering participation and 17 percent do not intend to participate.
• Insurers' number one concern is the impact of adverse selection on their business if they receive a disproportionate number of high-risk patients.
• Fifty-three percent of consumer respondents say they would not be willing to pay a higher price for any additional health insurance feature, such as dental coverage.
• Sixty-one percent of consumers said they think health insurers should offer rewards, such as discounts or gift cards for healthy behavior.
Read the news release about PwC's Change the Channel report.
Related Articles on Health Insurance Exchanges:
HHS Proposes Rules for Health Insurance Exchanges, Offer States Flexibility
Survey: Employer-Sponsored Insurance Market Will Remain Stable After ACA Goes Into Effect
Alabama, Georgia Join Others in Study of Insurance Exchanges