Income: Governing U.S. Consumer Healthcare Behavior
Report Summary
Income: Governing U.S. Consumer Healthcare Behavior
Knowledge of consumer health behavior across various income segments enables industry participants to tailor marketing messages to every income bracket.
Boston, May 29, 2012 – A new report from Aite Group analyzes how income levels affect consumer behavior in the U.S. healthcare market. Based on an October 2011 survey of 1,008 U.S. consumers, the report discusses income distribution among consumers who participate in the healthcare insurance market and examines their attitudes toward the options available to them. It is the third in a series of Aite Group reports that cover the sentiments of insurance consumers.
Income level obviously affects insurance coverage, but it also affects U.S. consumers’ sentiments on renewal, average premiums paid, transactions incurred, the relevance of social media in healthcare, and the value of prevention-and-wellness programs and other popular coverage options. Armed with knowledge about these behaviors and the consumer mentality surrounding healthcare insurance, health plans, financial institutions, and healthcare vendors alike can tailor their marketing to every income bracket.
“For consumers, income disparity is widening the gap between pricing and benefits,” says Kunal Pandya, senior analyst with Aite Group and co-author of this report. “Although lower-income consumers find benefits important, they are more concerned with procuring healthcare coverage at a reasonable price than are higher-income consumers. As healthcare moves to a defined-contribution model, parity between pricing and benefits will become a driving factor for stakeholders seeking to sustain clientele and growth.”
This 42-page Impact Report contains 34 figures. Clients of Aite Group’s Health Insurance service can download the report.