Wellmark Reports Strong Open Enrollment Period
Wellmark Blue Cross and Blue Shield has announced the results of its 2014 open enrollment in Iowa and South Dakota. At the conclusion of the 2014 open enrollment period, Wellmark sold more than 24,000 Affordable Care Act (ACA) plans, representing more than 41,000 policyholders.Open enrollment for 2014 health insurance policies began on Oct. 1, 2013, and ended March 31, 2014.
“We have a great story to tell about the enrollment in our new ACA-compliant plans,” said Wellmark Chairman and CEO John Forsyth. “Our ACA plan enrollment numbers confirm that among all the confusion in the marketplace, consumers were drawn to a brand they know and trust. Consumers had incredible choices when it came to their coverage – Wellmark’s ACA plans were a new option and were just as competitive as those available on the health insurance marketplace.”
Forsyth added that Wellmark’s online enrollment tool launched successfully the first day of open enrollment and did not require consumers to register or enter personal information in order to shop and compare plans. “We wanted consumers to have an easy way to look at all of their options. Our enrollment tool was operational from the beginning and made the enrollment process simple and straight forward.”
Wellmark’s enrollment data shows:
- Consumers enrolled with a company they know and trust. Nearly half of the consumers who enrolled in a Wellmark ACA plan are new to Wellmark. When given a choice, consumers migrated from other plans or chose Wellmark for the first time.
- Consumers overwhelmingly chose ACA Preferred Provider Organization (PPO) plans.PPO plans allow consumers to visit an in-network physician or healthcare provider without a referral from a primary care physician.
- Consumers opted for higher benefit Silver and Gold plans. The majority of consumers who purchased Wellmark’s ACA plans chose Silver level plans followed by Gold, Bronze and Platinum.
- Wellmark ACA plan members represent all age ranges. Wellmark had the highest enrollment among consumers in higher age brackets, 55-64 and 45-54, followed by consumers age 26-34 and 35-44. Consumers less than age 25 comprised the lowest enrollment.