ConnectedHealth’s private benefit exchange, Smart Choices Marketplace, has seen more traffic in the first week of the current open enrollment period than the first full month of the 2015 season.
Of the traffic to the marketplace, one-third of consumers are shopping for subsidy-eligible plans and more than half of consumers are shopping for plans and/or have started or completed the application process for medical coverage — up 31% from week one of the 2015 season.
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Further, 15% of the shoppers are looking to purchase coverage for the remainder of 2015 because they experienced a qualifying life event, such as a new job or relocation to a new state.
"ConnectedHealth's strong numbers early on underscore the growing reception we're seeing in the private exchange industry from employers and consumers alike, particularly at a time when recent reports indicate that state exchanges and CO-OPs are struggling to find their footing," says ConnectedHealth President Joe Donlan. "As health care affordability continues to be a primary concern, we've introduced financial wellness tools and other engagement tactics that help consumers weigh coverage options against their personal situation and preferences, so they can make the best decisions possible."
The company also states that despite increased traffic to its website, its call center experienced a 32% decrease in call volume compared to the same time last year. “This suggests consumers are feeling better equipped to make important decisions about their coverage online with the help of decision-support tools,” the company believes.
