The Individual and Family Plan Shopping and Switching Study delivers critical trend-tracking and analysis of consumer behavior during the market's Open Enrollment season (November - January for most states). The study's clients gain understanding of how ACA members were brought into coverage and what made the difference when they were selecting a plan -- product design, marketing, and/or sales.
With an extra 20 billion dollars of subsidies available, 2022 is expected to be a landmark year in the history of ACA enrollment.
Why Invest in Market Research?
- To better understand the market landscape and your position in it.
- To measure consumer perception.
- To gather competitive intelligence.
- To identify emerging industry trends.
- To understand why consumers switch health plans and how they go about doing it.
Rapid Change in the Marketplace for Individual and Family Plans
- It's a very active market: of those with IFP coverage in 2020, 47% switched health plans in 2021 to get a lower premium or add needed coverage.
- Marketplace participation among carriers has grown steadily since its low point in 2018, with 22 states experiencing a net increase of one or more on-exchange carriers in 2021, and no states experiencing a net decrease.
- Average premium changes were minimal between 2020 and 2021, encouraging IFP consumers to remain enrolled. For a 40-year-old non-smoker, the average pre-subsidy Silver plan premium increased by only $1.
- Over the course of the 2021, compared to 2020, the number IFP marketplace signups was about 4.8% higher.
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