Health Reform: A New Opportunity for Consumers

For the first time in American history, we have the chance to bring significant changes our health care and health insurance system that will shape the industry for generations to come. Because of these high stakes, it’s understandable there are concerns of what reform will mean for the future of health insurance and health care.

But it’s important to remember that industry players and lawmakers have full control over the fate of health reform. For that reason, we can’t look at the new law as anything else but a tremendous opportunity to improve how we deliver quality health care to all Americans.

There are more than 40 million people in the United States who have no health insurance coverage, and we simply can’t afford to continue with that status quo. As named, the Patient Protection and Affordable Care Act was signed into law to directly benefit each and every citizen.

Expanded Adoption

With health care reform there is an opportunity to help more people obtain coverage both through the exchange and other platforms.

The influx of uninsured consumers will require a modification to traditional health insurance distribution and fulfillment, but this increased adoption of coverage means that a greater opportunity exists to serve the larger market. Companies already adapted to selling health insurance to a variety of audiences will be best suited to serve this new audience.

Efficient Researching, Shopping and Purchasing

The expanded coverage for the uninsured will result in unprecedented numbers of consumers going online in search of health insurance coverage. The exchanges will centralize this demand, allowing for a historic opportunity to maintain efficiency when servicing these requests through all stages of the shopping process: research, shop, compare, and purchase.

Companies able to provide an efficient model for connecting a centralized consumer flow with the resources they need will be most effective at fulfilling the needs of these requests, from those that want to speak with a trusted advisor to those ready and able to apply for coverage themselves.

Increased Access to Tools and Information

Universal access to health insurance will mean that greater numbers of consumers will need to access the tools and information necessary to find the right health insurance plan for their needs.

Reform is an opportunity for companies that build these tools and informational systems to address the needs of millions of uninsured consumers and make ready these decision engines and platforms for this new audience.

Improved Transparency

The online marketplaces or exchanges required by the new law present an opportunity to improve transparency and help consumers make better health care decisions.

By increasing the transparency of both pricing and benefits related to the health insurances options, companies can help consumers to make better decisions regarding the coverage they need. Some consumers will look for the most affordable solution to a defined set of benefits; others may be more price-conscious and explore the benefits available for a defined monthly premium. Greater transparency on pricing and benefits will allow each of these approaches to result in a plan that meets their needs.

Increased transparency will also help consumers pick a health insurance company they trust. Consumers should be able to easily find ratings and reviews of health insurance companies and look at additional customer service benefits that company provides to its customers.

Making this information available to consumers will allow them to make better decisions with regards to the cost, benefits, and provider of their health insurance coverage.