Contact Information: Contact: Michael Mahoney GoHealthInsurance 888-250-3409
GoHealthInsurance Releases the "Insurance Exchange Effect" Consumer Study
GoHealthInsurance.com Recently Published a Study Which Examines Pricing Differences Within the Process of Shopping Online for Health Insurance; The Study Also Introduces the Insurance Exchange Effect, Which Impacts the Health Plan Choices of Consumers Throughout the Process
| Source: GoHealthInsurance
CHICAGO, IL--(Marketwire - December 14, 2009) - Today, health insurance portal
GoHealthInsurance.com released a report which examines consumer trends as
they shop online for coverage. The study consists of average health
insurance pricing data for consumers who used the GoHealthInsurance.com
service between July 2009 and September 2009.
In addition to data on average insurance rates, GoHealthInsurance reveals a
shopping trend which the report calls the "Insurance Exchange Effect." The
study finds that the average person who uses the Internet to shop for health insurance is subject to
this trend.
Insurance Exchanges, according to the study, are online marketplaces that
combine two vital components for online shopping: Web-based quote engines
to compare available health plans and live advice from experienced health
insurance agents.
As defined in the report, the Insurance Exchange Effect is apparent throughout the
three main stages of the process of purchasing health insurance. In the
first, or "research" stage, consumers view a list of plans and click a
variety to compare multiple coverage options side-by-side. After comparing
plans, consumers then reach the second "shopping" stage by choosing a plan
they intend to purchase and complete at least one page of that plan's
application. In the final stage, the "purchase" stage, a consumer's
application has been accepted and he or she is actively paying premiums for
an in-force plan.
The Insurance Exchange Effect dictates that consumers choose plans with
lower premiums and lower deductibles in each stage, finally choosing the
lowest priced option in the final purchase stage with the help of an agent.
"It's no surprise that there's an obvious trend between each part of the
shopping process," said Brandon Cruz, President and CTO of Norvax, Inc.,
the parent company of GoHealthInsurance.com. "This study illustrates how
important it is for consumers to have convenient access to online tools and
the knowledge of experienced agents to ultimately purchase the plan that's
right for them."
The study looks at pricing information for both individual and family
health insurance plans, as well as the cost differences between age ranges.
It is available for download online at
http://www.gohealthinsurance.com/media/gohealth-the-insurance-exchange.pdf.
Consumers can use the GoHealthInsurance service for free by visiting
http://www.gohealthinsurance.com.
About GoHealthInsurance
GoHealthInsurance.com makes buying health insurance simple.
GoHealthInsurance explains health coverage options in plain English,
provides free health insurance
quotes, connects shoppers with local agents, and helps consumers choose
plans that meet their health and budget needs.