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Would you buy a new car from your Health Insurer every year?

Summer 2016

We all know healthcare in America is expensive. We sense and witness the rising levels of cost sharing, accelerating employee contribution levels, increasing use of High Deductible Health Plans, the price of specialty pharmaceuticals as well as the growing cost of generics… and of course rising premiums.

Milliman, Inc., one of the leading actuarial consultants in the healthcare space released the 2016 Milliman Medical Index (MMI) on May 24th. This index tracks the cost of healthcare for an American family of four obtaining coverage from an employer-sponsored PPO product.

This is the first year that a family’s coverage and cost sharing exceeded $25,000.00

Without pontificating about who and what sector of the industry deserves the blame. Without judging whether the cost of healthcare is sustainable in our economy or not. I will ask this of my friends and colleagues in the payer world….

What type of customer service, member engagement, brand loyalty, and quality do you deliver for 25K per year?

What type of customer service, member engagement and quality would you yourself demand when spending 25 thousand dollars on a product?

The Health Insurance industry is known for having an adversarial relationship with its members, it is rated just below the U.S. Postal service in consumer satisfaction in a 2013 McKinsey & Company survey! It is rated far below the satisfaction levels of most other far less costly consumer services.

As people pay more in premium, in cost sharing, in employee contributions, they are demanding more. More and better service, increased engagement and a higher quality experience overall.

Ask yourself this… are you delivering a 25 thousand dollar experience?

Would you buy a new car from your company each and every year?

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