OEP Health Insurance Shopper Trends To Leverage For Advertising Campaign Targeting & Optimization

The open enrollment period (OEP) represents peak season for health insurance advertisers focused on generating inquiries and inbound calls from consumers. With a limited window of six weeks to reach OEP health insurance shoppers with the right information, insurance advertisers need to make sure they’re getting the right messages to the right people to encourage immediate action.

To better understand the OEP audience and the latest trends, the Digital Media Solutions (DMS) team analyzed its first-party data to identify health insurance shopper mindset, including desires and concerns.

Pre-Existing Conditions & Pregnancy Became Increasingly Influential Factors During The 2020 OEP

The share of OEP insurance seekers with pre-existing conditions grew from 3% in 2019 to 7.3% in 2020. In January 2019, the requirement for all Americans to obtain health insurance was discontinued. This shift likely played a role in the increased share of insurance seekers with pre-existing conditions. Removing the mandate to obtain health insurance may also have impacted the insurance options for “healthy” consumers who could not afford opting out of health insurance previously.

According to DMS first-party data, the share of female health insurance seekers who were pregnant increased by 35% year over year, from 0.95% in 2019 to 1.28% during 2020 OEP, likely a result of increased employment insecurity due to COVID-19. The potential for loss of health insurance as a result of industry shutdowns, reduction of hours or changes in employment status was likely a concern for many expecting mothers, causing pregnant women to become more interested in securing health insurance options separate from or supplemental to employer-based insurance offerings.

Learn more about how DMS can support your OEP goals. Contact DMS today.

Older Adults Capitalized On OEP In 2020, As Health Concerns Rose

The older adult population is growing at a rapid rate, and their influence throughout the health insurance industry is becoming clear. During the 2020 OEP, the share of adults aged 55+ made up 40% of OEP health insurance seekers, compared to 29% in 2019. Adults aged 65+ experienced a more significant jump, rising from a share of just 3% of OEP health insurance shoppers in the 2019 OEP to 9% in 2020. The increase in older adults capitalizing on OEP in 2020 was likely due to the risks associated with COVID-19, as adults aged 65+ remain one of the most vulnerable and at-risk age groups for COVID-19-related complications. The increased COVID-19 risk resulted in many older adults taking precautionary measures, like seeking out health insurance.

Many older adults also became more comfortable with online searching during quarantine, leading many adults aged 55+ to seek out insurance options and additional information entirely online.  

Learn more about how DMS can support your OEP goals. Contact DMS today.

Middle-Income Consumers Remained A Key Demographic For Health Insurance Advertisers & Providers

Between 2019 and 2020, increases in the volume of OEP health insurance shoppers were seen in the $60,000-$74,999 and $75,000-$99,999 income brackets. Combining these two brackets, the share of OEP health insurance seekers with incomes between $60,000 and $99,999 increased by 28.8% year over year, from a share of 17.7% in 2019 OEP to 22.8% in 2020 OEP.

Middle-income brackets are unlikely to qualify for need-based, low-cost healthcare programs and often feel significant impact from dramatic changes in healthcare costs. Therefore, consumers in the middle-income bracket should be a key demographic for health insurance advertisers to target, as they are increasingly seeking healthcare and related insurance options that offer flexibility and optionality with price and program. 

Are You Looking To Maximize Your OEP & AEP Campaigns?

DMS connects many of the nation's leading health insurance providers and agents with customers and near customers. Our AEP and OEP campaigns are designed to maximize results by matching high-intent health insurance shoppers with the health insurance providers and agents that meet their needs. Contact DMS today to learn how our first-party data asset, proprietary technology and expansive digital media reach can help you maximize your health insurance campaigns.

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