How has the ACA impacted individual sales?
August 24, 2015 10:30 AM
Overview
Brokers played a key role in helping individuals enroll in health care coverage on the marketplaces under the ACA 60% of brokers helped up to 50 consumers during the 2015 open enrollment period, and 20% helped more than 100, according to the 2015 Kaiser Foundation Survey of Health Insurance Marketplace Assister Programs and Brokers. However, brokers reported that selling individual policies is more time consuming and less profitable since the ACA was implemented.
Here are some other broker-related findings from the survey:
Also see: Brokers played essential role with 2015 ACA open enrollment
[Image: Fotolia]
Here are some other broker-related findings from the survey:
Also see: Brokers played essential role with 2015 ACA open enrollment
[Image: Fotolia]
Hundreds helped
On average, brokers report helping about 140 consumers, both in and outside of the marketplace, with eligibility and enrollment during the second open enrollment period.
[Image: Fotolia]
[Image: Fotolia]
It takes more time to sell a policy
66% said the time it takes to sell an individual policy has increased since implementation of the ACA
18% said it has decreased
17% said it has stayed the same
[Image: Fotolia]
18% said it has decreased
17% said it has stayed the same
[Image: Fotolia]
Revenue per policy is dropping
57% said revenue per policy has decreased since implementation of the ACA
23% said it has stayed the same
20% said it has increased
[Image: Fotolia]
23% said it has stayed the same
20% said it has increased
[Image: Fotolia]
More policies are being sold
60% said the number of policies being sold has increased since passage of the ACA
24% said it has stayed the same
17% said it has decreased
[Image: Fotolia]
24% said it has stayed the same
17% said it has decreased
[Image: Fotolia]
Overall revenue holds steady
40% of brokers said their total revenue from non-group plans has increased
40% said their revenue has decreased
20% said it has stayed the same
[Image: Fotolia]
40% said their revenue has decreased
20% said it has stayed the same
[Image: Fotolia]
Brokers are less likely to reach out
80% of assister programs engaged in outreach and public education
33% of brokers engaged in outreach and public education
[Image: Fotolia]
33% of brokers engaged in outreach and public education
[Image: Fotolia]
Brokers more likely to help small businesses
34% of brokers helped small businesses
9% of assister programs helped small businesses
[Image: Fotolia]
9% of assister programs helped small businesses
[Image: Fotolia]
