Guiding Consumers to Build Their Own Health Insurance Plan

Hero Image: Guiding Consumers to Build Their Own Health Insurance Plan

Business Challenge

A major health insurance carrier asked TRC to help them redesign their Medicare Advantage plans. Knowing they had the flexibility to differentiate themselves through additional benefits and options, our insurance carrier client wanted to identify the most appealing benefits and the trade-offs a consumer would make when considering which plan they’d choose. We were also asked to profile consumers interested in specific features and levels so that our client could customize marketing materials with that information.

TRC’s Solution

Our market research used a product configurator exercise, allowing consumers to build-their-own Medicare Advantage plan and see the actual cost impact each level had on the overall premium.

Successful Results Implementation

With this data, TRC helped our insurance carrier client identify the “most preferred” levels for each health benefit, as well as coverage areas that a consumer would be willing to pay more for. Profiling consumers by plan-type, and state of residence, and other various demographics helped provide TRC with insights to assist our client in their marketing efforts and in their development of new plans.