The expectations and preferences of tomorrow’s health careconsumers are changing the way our industry approaches nearlyevery aspect of employee benefits, and we must alladjust our strategies in order to stay relevant and competitive.From benefits education to product offerings and the userexperience, next-generation consumers have higher expectations thanthose before them. Benefits brokers and agents who want to thrivein the ever-changing benefits landscape can look to industryinsights and market trends to make the necessary adjustments thatcan help ensure they effectively reach next-generationconsumers.

Meet the next-generation consumer

A vision of the future consumer has come into clear focus. Inthe first quarter of 2015, millennials — born from the early 1980sto the mid-1990s — officially replaced Generation X asthe largest segment of the American workforce. More than1 in 3 American workers today are millennials.Fast forward to 2025 and millennials will account for 75 percent of the workforce, and not farbehind them is Generation Z — those born after 1995 — who areentering the workforce now and are expected to make up 20 percent of workers in less than five years. Their values, expectations and attitudes are reshaping howfuture health care products and services are marketed anddelivered. For benefits advisers, this new reality means adaptingto a new generation of health insurance consumers.

According to Aflac’s Healthcare 2025 Report, as more of thesenext-generation consumers enter the workforce and begin makinghealth care decisions, their expectations of health insuranceproviders will mirror what they’ve come to expect from othercompanies. They’ll anticipate a retail-like experience: online andmobile, simple and convenient, with personalized and consistentservice. Their use of social media will also play a significantrole in their relationship with providers. Twenty-seven percent ofemployees today will write a negative review or post on socialmedia following an unpleasant experience with their healthinsurance provider. This trend will likely gain momentum as moresocial media-savvy workers enter the workforce.

Providers are changing the way they do business

Other trends are coming into play and giving benefits advisersmore reasons to partner with providers that give next-generationconsumers greater control, security and protection. Rising healthcare costs, for example, have led insurance providers to expandtheir nontraditional offerings such as telemedicine, billnegotiation and fraud protection services. These new services notonly help satisfy increased consumer expectations, but also helpprovide additional financial protection. With 1 in 3 Americansstruggling to pay medical bills, demand for such financialprotection is increasing.

Adding to these new consumer demands are new technologies thatwill enable more personalization and convenience.Online tools for treatment options and costs, real-time datasupporting preventive care and direct consumer access to diagnostictesting are just some of the expected innovations.

Benefits professionals comfortable being uncomfortable

Although a paradigm shift occurred with the passing of healthcare reform law, the next 10 years will bring more change as theconsumerization of health carecontinues. The time to embrace the challenges of the rapidlychanging health care landscape is now. Evolving strategies based onmarket trends will allow benefits advisers to be better positionedto meet increased customer expectations. By adapting to the newgeneration of health care consumer, those professionals will charta course that could mean the difference between falling behind in agrowing and competitive marketplace and setting the standard forsuccess for many years to come.

This article if for informational purposes only and is notintended to be a solicitation.

Z1605456/16