New Survey Shows That Consumers Have High Trust And Satisfaction In Health Insurers Despite Reservations
Latest Voice of the Market Survey, conducted by HealthEdge and Survata, finds that consumers remain frustrated with high costs and gaps in health insurance services
Burlington, MA, June 14, 2018 —HealthEdge®, provider of the only integrated financial, administrative and clinical platform for transformative health plans, today announced the results of its latest Voice of the Market Survey, a member satisfaction study of more than 2,500 health insurance subscribers from across the United States. The survey findings indicate that, despite reporting high satisfaction and trust in their health insurers, consumers are weary of rising costs and missing services, with nearly a third of respondents blaming health insurers for the high cost of healthcare. Further, the results also show that consumers are eager to participate in bending the cost curve of healthcare through better understanding of their benefits, tools to find less costly care and incentives for staying healthy. The full report of the survey findings is available to requestors by clicking here.
“The results of the survey show that while consumers across all of our survey demographics express high satisfaction with their health insurers today, they are looking to these organizations to improve on various services and tools,” said Steve Krupa, CEO of HealthEdge. “Consumers are actively looking to their health insurers to provide them with tools to help manage out of pocket costs, incent healthy behaviors and navigate the complexities of their benefits. These factors will become even more important as Millennials and other age groups grow their influence and buying power for healthcare services.”
Specific findings from the survey include:
- Across all demographics, consumers report relatively high satisfaction with health insurance companies, with insurers earning an average rating of 4 out of 5 stars by survey respondents.
- Consumers overwhelmingly hold more trust in the current insurance model (69 percent) over government-run programs (19 percent) or potential new partnership models from proposed mega-mergers among retailers such as Amazon, CVS or Walmart (12 percent).
- Despite high member satisfaction and trust in their health insurers, Millennials (664 respondents), the largest demographic age group in the U.S. today, assign the blame for the high cost of healthcare to health insurance companies (35 percent) over other stakeholders.
- A significant percentage of respondents from all age groups (more than 40 percent) reported that their health insurers are missing key services that would increase their overall member satisfaction. These include: tools/information to better understand benefits, more incentives for healthy behaviors and tools/information to help find less costly care.
This survey was commissioned by HealthEdge and conducted by Survata, an independent research firm in San Francisco. Survata interviewed 2,513 primary health insurance subscribers online between May 3, 2018 and May 15, 2018. For further information, visit survata.com.
HealthEdge® provides modern, disruptive healthcare IT solutions for core administration and care coordination that health insurers use to leverage new business models, improve outcomes, drastically reduce administrative costs and connect everyone in the healthcare delivery cycle. Our next-generation enterprise solution suite, HealthRules®, is built on modern, patented technology and is delivered to customers via the HealthEdge Cloud or onsite deployment. An award-winning company, HealthEdge empowers health insurers to capitalize on the innovations, challenges and opportunities that await in the new healthcare economy. For more information, visit www.healthedge.com.