Question

When are individuals likely to participate in voluntary insurance markets? Why?

Answer 1

Ans) The Health Insurance Marketplace (also known as the “Marketplace” or “exchange”) provides health plan shopping and enrollment services through websites, call centers, and in-person help.

- Premium tax credits and other savings that make insurance more affordable

- Coverage through the Medicaid and Children’s Health Insurance Program (CHIP) in your state.

● Employers are looking to provide employees with these benefits as a mechanism to control increasing company healthcare costs. Employers want to stay competitive
with other employers who offer these benefits.
There is a general push to consumer driven benefits and consumer choice This means employers have expectations that insurers will be able to provide Voluntary Worksite benefits.
● Through Voluntary Worksite Benefits, insurers get to work directly with the individuals and allows them targeted marketing opportunities.
● The persistence of policies as they can be carried over by employemployees to their new jobs makes them attractive to insurers.