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ConnextionsHealth Introduces Member Transition Services to Assist Health Plans in Efforts to Retain Members During Life Cycle Changes
Date:12/15/2008

Health insurers lose billions each year: Failing to retain plan members who leave due to early retirement, termination and loss of benefits.

Orlando, FL (Vocus) December 15, 2008 -- ConnextionsHealth today announced the creation of its Member Transition Services® - a portfolio of technology-driven processes and personal touch points - designed to assist health plans in their effort to mitigate the loss of group (or "commercial") plan members during major life cycle changes such as early retirement, job termination, "aging out" of dependent children, or elimination of health care coverage as a benefit by their employer.

According to a November 2008 study published by McKinsey & Company, most health insurers capture less than 10% of this group "transition" market, which is estimated at approximately $40 billion annually. A market analysis by L.E.K. Consulting suggests there are typically 8.1 million individuals who are in transition at all times, not factoring the current wave of corporate layoffs.

Insight into the significance of this market opportunity was provided at UnitedHealth Group's annual investors' meeting held on December 2nd. At this briefing, the nation's second largest health insurance carrier reported that several factors, including large employers that didn't renew their contracts for 2009, will lead to an enrollment decline of as many as 1.5 million commercial members for UnitedHealth Group in the coming year.

"What's most unfortunate about this missed opportunity," according to Ms. Leslie Pecci, Chief Operating Officer of ConnextionsHealth, "is that a significant percentage of health plan members are satisfied with their coverage, and would likely remain with their current health insurance providers if they were presented with viable alternatives at the appropriate times, and given easy access to
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Source: PRWeb
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ConnextionsHealth Introduces Member Transition Services to Assist Health Plans in Efforts to Retain Members During Life Cycle Changes
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