Humana Group, Blue Cross Blue Shield and Coventry Group Most Likely to Gain Market Share Due to ACA
The Media and Public Opinion Research Group is releasing a report highlighting the affect of the ACA on consumer behavior. Preliminary trends indicate that Humana, BCBS and Coventry are most likely to gain market share from the new health care laws.
Online, November 1, 2013 (Newswire.com) - A new report from the Media and Public Opinion (MPO) Research Group highlights changes to consumer behavior following the launch of the Affordable Care Act (ACA) exchanges and finds that over half the customers of Wellpoint Group, Aetna Group, UnitedHealth Group, Kaiser Permanente and HCSC Group say they are very likely or somewhat likely to shop for a new policy.
Customers from Humana Group, Blue Cross Blue Shield and Coventry Group are the most satisfied: the majority of their customers say they are not interested in shopping for new policies.
When it comes to reasons people plan on shopping for new policies, the cost of current coverage and curiosity were the two most common factors.
What will these customers be looking for in a new policy? Those who qualify for subsidies under the new policy say they are looking for low premiums, low deductibles and comprehensive coverage. Reputation of the insurer is not the major consideration for most shoppers.
The exchanges have been open since October 1, but have been plagued by well-publicized problems with the Healthcare.gov website. As the problems with the site are fixed, it can be expected that more Americans will look to Healthcare.gov for their plans next year. That said, most Americans who quality for subsidies do have concerns about buying insurance through a government-run exchange. The quality of products offered tops the list of worries, followed closely by privacy concerns.
This data is based on preliminary results of a representative survey of over 1,000 American adults (margin of error +/-3). Complete findings will be available in MPO's final report: The Impact of the Affordable Care Act on the US Health Insurance Market, due for publication November 15.