Voluntary Benefits Growth – Access to Increased Drug-Device Sales?
Employers currently represent approximately 60% of the commercial insurance market dollars. The Employer commercial insurance market consists of more than 95,000 companies with self-insured plans, eighty percent of whom have less than 2,000 employees.
Entering 2017, these employers faced double-digit increases in the cost of prescription drugs for their employees and families. For those needing specialty drugs, cost increases may be much higher.
Employers will be well positioned in the market in 2018 to pilot new models for payment and cancer care that benefit insurers, drug companies and the patient through their benefit design and growth in voluntary benefits.
Voluntary benefits often allow the employer to offer a much wider range of benefit choices, which can help to attract new employees and retain current ones. The need for critical illness insurance is heightened by the frequency of major critical illnesses today. Treatments and the advance of medical science have resulted in many people outliving the onset of these major conditions.
We expect to see deeper and broader plan design changes in-play for 2018 that will continue to impact oncology in commercial marketplace.
Employers in certain metro areas play a leading role in reducing the cost of cancer care through innovative benefit design. Monitoring the growth voluntary benefits offered by specific Employers will provide you with the insights to align your sales efforts for drug and medical devices by MSA.
The 20+ page report contains 13 Figures. The report’s Table of Contents:
- Employer Benefits
- Prevalence of Chronic Disease
- Voluntary Benefits
- Employee Financial Stress
- High Deductible Health Plans
- Employer Offering of Supplemental Benefits
- Advantages of Voluntary Benefits
- Most Costly Health Conditions for Employers
- Cancer Insurance Coverage
- Workforces Eligible for Cancer Coverage by MSA
- Leading Cancer Policy Insurers
- Workforces Eligible for Special Cancer Coverage by Industry
Access Market Intelligence has developed a framework to help clients deploy or optimize employer sales initiatives by utilizing:
- Proprietary database of 95,000+ self-funded plans containing key demographics and business relationships to identify high value targets. AMI’s database provides the foundation to identify the stakeholder relationships in any geographic market by offering more than 30 categories of information on each self-funded plan.
- Risk & Relationship Mapping (R&R Mapping) identifies the relationships among the stakeholders in the market and is key to targeting the opportunities for success. R&R Mapping provides our clients the information they need to know who works with who in any geographic market among the key stakeholders, including: Employer, Health Plan, Advisor/Employee Benefit Consultant, Coalition, PBM, and more.
- Consulting expertise to develop sales strategies and a value proposition that resonates with identified targets utilizing the Risk & Relationship Mapping analysis applied to your company’s products.