The United States spends more on healthcare than any other country in the world, totaling approximately 17.2 percent of the GDP in 2012. That equaled over $2.75 trillion. Private health insurance is a big player in this sector, paying for approximately one-third of all health spending in 2010, while consumers’ out-of-pocket spending totaled 11.8 percent.
The healthcare industry is exploding; therefore becoming a health insurance agent is more than just a job; it is a good bet for success.
Think about it. The health insurance landscape is being transformed. In many ways that is good. Millions more people now have access to health insurance; however, the process of selecting the right health insurance policy remains extremely complex. This is where your position as a health insurance agent can provide huge opportunities.
Affordable Care Act
The Affordable Care Act (ACA), also known as Obamacare, has made shopping for health insurance a confusing task for many consumers. Therefore, it is the health insurance agent’s job to research and sort out policies and provide clients with their best alternatives. And the market is huge. The Affordable Care Act has mandated that approximately 50 million uninsured Americans get coverage. It is expected that about 20 million more employees will leave their group plan for individual coverage. Over 7 million had done just that by September 2014.
But it is not just Obamacare that is driving demand. Over 11,000 Americans become Medicare eligible every day.
Enrolling in Medicare is daunting task. The terminology is confusing and the options are endless. It is extremely easy to make a mistake, thanks to a confusing structure and lingo. Failure to enroll during the required time can be costly.
Therefore, the search for insurance – either through Medicare or ACA’s marketplaces – can take hours/days and result in endless frustrations. Because of this, 73 percent of health insurance consumers rely on agents to help them make complex insurance decisions. The demand for health insurance agents is expected to increase 10% through 2022.
The opportunities are endless
So get involved in this exploding industry and the opportunities that it presents. At HealthMarkets, we are in the epicenter of the vibrant and growing healthcare industry. We don’t offer a job – we offer a vibrant career with independence; plus, we offer plenty of rewarding opportunities for our health insurance agents. You are changing the buying experience for health insurance products for individuals and families across the country. You also have the opportunity to change the lives of individuals in your community through HealthMarkets’ philanthropic program. Visit HealthMarkets.org for information about the organizations we support.
Contact us today to learn more.