One major consequence of the Affordable Care Act is the ability for consumers to obtain insurance without providing any information on their health status. In the past, carriers have used this information to limit their potential claims costs by either denying coverage or increasing premiums at the individual level. Eliminating that option for the carriers is truly reducing unneeded suffering in our society. As a consequence, however, carriers are unable to learn anything about the health status of their customers at the time they sign up for coverage, and are forced to set higher reserves and premiums to cover the resulting uncertainty.
What if there were a middle ground, where carriers could learn more about their potential customers without impacting the actual sales process, and at the same time, provide even more value for customers seeking health insurance?
At HealthDecisions.us, we believe we have a solution that can provide that middle ground. We have developed a process that enables potential health insurance customers to assess the financial value of health insurance plans customized for their particular health status. The analysis is anonymous, but results in a clear set of tradeoffs for customers, and can be linked to a complete enrollment process if desired. The aggregated data gathered from the upfront analysis gives far more detailed information on self-reported health status. This can be used by carriers to assess risk and general demographics that they no longer normally have access to. This can truly be a win-win for customers and carriers alike.
You can experience our system firsthand at HealthDecisions.us