eHealth's Early Obamacare Open Enrollment Report: Why People Are Shopping & What They're Buying
"The cost of coverage is the biggest concern for most health insurance shoppers right now," said eHealth CEO and Chairman
Mr. Lauer recently published a three-point proposal to help make health insurance more affordable for consumers under the Affordable Care Act (ACA, commonly referred to as Obamacare).
Highlights from eHealth's early shopper report:
| "Lower monthly premiums are my biggest concern" | "I was able to find a 2016 plan with a lower premium" | "I was uninsured before shopping at eHealth" | ||
| 69% | 49% | 33% |
- 69% want to lower their monthly costs - More than two-thirds of survey respondents say that finding affordable monthly premiums is their biggest concern
- 49% say they found lower cost options - Nearly half of survey respondents say they were able to lower their monthly premiums compared to their 2015 plans
- 33% of early shoppers were previously uninsured - Uninsured Americans are still turning to eHealth to find Obamacare-compliant health coverage
- Premiums for plans selected by shoppers are up 12% on average compared to 2015 - Early shoppers are selecting more expensive plans for 2016 compared to the first two weeks of open enrollment for 2015
- Silver plans gain in popularity - Nearly a third of early shoppers (32%) selected silver plans, compared to 24% in the first two weeks of open enrollment last year
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Popularity of EPO plans increases 50% -
Exclusive Provider Organization (EPO) plans accounted for 15% of all plans selected by early shoppers, compared to only 10% last year
COVERAGE COSTS AND SHOPPING TRENDS AMONG EARLY SHOPPERS
The information provided below is based on health insurance applications submitted through eHealth during the first two weeks of the current Obamacare open enrollment period (
Average premiums and deductibles for individual coverage:
$348 per month for premiums, a 12% increase compared to last year($312) $4,087 per year for deductibles, an 8% increase compared to last year($3,788)
Average premiums by metal level for individual coverage:
$506 per month for platinum plans$437 per month for gold plans$383 per month for silver plans$330 per month for bronze plans$154 per month for catastrophic plans
Plan selection by metal level (individual and family plans combined)*:
- 4% selected platinum plans, compared to 7% last year
- 13% selected gold plans, compared to 15% last year
- 32% selected silver plans, compared to 24% last year
- 43% selected bronze plans, compared to 46% last year
- 9% selected catastrophic plans, compared to 9% last year
Plan selection by plan type (individual and family plans combined)*:
- 37% selected HMO plans, compared to 36% last year
- 42% selected PPO plans, compared to 45% last year
- 15% selected EPO plans, compared to 10% last year
- 6% selected POS plans, compared to 10% last year
Early shoppers by age of primary applicant (individual and family plans combined):
- 4% were under age 18, compared to 4% last year
- 5% were age 18-24, compared to 7% last year
- 28% were age 25-34, compared to 29% last year
- 22% were age 35-44, compared to 22% last year
- 20% were age 45-54, compared to 20% last year
- 21% were age 55-64, compared to 18% last year
- 41 was the average age of primary applicants, compared to 40 last year
EHEALTH SURVEY: CONSUMER SENTIMENTS AMONG EARLY SHOPPERS
The information below is based on the results of a voluntary survey of consumers who purchased individual or family health insurance plans through eHealth during the current open enrollment period. More than 400 responses were collected
The most important factors for early health insurance shoppers:
- 69% said that an affordable monthly premium was the most important thing they looked for in a health insurance plan
- Among persons identifying themselves as subsidy recipients, 79% said an affordable monthly premium was the most important factor
- 56% of those not receiving subsidies felt the same way
- 13% said the most important factor was finding a plan that accepted their current doctor
- Ten percent said the most important factor was finding a plan with a low deductible
Coverage status prior to selecting a plan at eHealth:
- More than four-in-ten (44%) said they were previously insured under a plan they had purchased themselves
- A third (33%) said they were previously uninsured
- 16% said they were previous insured through an employer-based plan
Why consumers may be shopping for new coverage:
- More than half (58%) said the monthly premiums for their 2015 plan were being raised
- A third (33%) said the benefits offered through their old plan had changed
- Nearly three-in-ten (29%) said the deductible on their 2015 plan was going up
- 17% said their old plan would not be available in the same form in 2016
The benefits for shopping for new coverage during open enrollment:
- Nearly half (49%) said they were able to lower their monthly health insurance premiums
- Among those identifying themselves as subsidy recipients that figure was 59%
- Among the unsubsidized that figure was 41%
- More than a quarter (28%) said they were able to lower their deductible with a new plan
Why people shop early during open enrollment:
- More than a third (38%) said they didn't want to pay the tax penalty for going uninsured
- More than a quarter (28%) said they recently learned they could qualify for coverage under the Affordable Care Act
- 15% said they needed access to health care due to an injury or illness
- 11% said they had missed last year's open enrollment period
* Figures may add to slightly more or less than 100% due to rounding.
eHealth
For more health insurance news and information, visit the eHealth consumer blog: Get Smart - Get Covered or visit eHealth's Consumer Resource Center.
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For media inquiries, please contact:
(916) 207-7674
sande.drew@ehealth.com
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nate.purpura@ehealth.com
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