We often talk of the importance of a Quality Brand in customer’s decision to pick a Health Insurance Plan and in 2023 we will be seeing a lot more of the Big Name in 2023 with Aetna and Cigna expanding they’re footprint in Florida. That may at first seem like a threat to your book of business but in reality, things may not be what they seem.
Companies like Aetna, Cigna and United in general are good Health Insurance companies. However, the ACA plans from these companies are something completely different from their normal Group Insurance plans. What is the difference you ask?
NETWORK, NETWORK, NETWORK!
Each of these companies uses a special ACA network that was designed to reduce cost. What does this mean to the customer? It means they are not getting the product they think they are when they purchase these ACA products. Many believe they will be getting the same basic plan they had at a previous employer. What they do not realize is that is the furthest thing from the truth. They specially designed networks have less of everything but where the biggest differences lie is in:
- Specialists: Most of the senior specialist will not be in these new networks. They have been in practice for decades and do not need new patients because of hard earned reputations. So, they do not want to accept lower payouts that these ACA networks offer. So, the specialists in these networks are typically younger and less experienced.
- Hospitals: This is another big hole in these new ACA networks. They try to save money by making exclusive deals with several area hospitals often leaving out the better usually more expensive hospitals.
Now we come back to the Florida Blue Advantage! The only Florida ACA provider that is a non-profit. This distinction allows them to focus more on patient care and less on profits. Florida Blue has 4 ACA networks, and these are the same networks provided in their Group plans. What does this mean to you? It means they have long standing contracts with Florida’s best Specialist and Hospitals and provide their customers with the opportunity to seek out the best care available.
So instead of thinking that new name brand national insurance companies expanding they’re footprint in Florida as a bad thing take it as a major opportunity for you this OE. When your customer calls about these new carriers talk to them about the Blue Advantage and sell them Dental, Usable Accident and CI this OE. In sales especially in the Health Insurance market change is what you make of it.