Self-image and peace of mind are top motivations, while of 70 percent of those evaluating exchanges already have insurance.

November 11, 2014 08:04 AM Eastern Standard Time

RESTON, Va. — (BUSINESS WIRE) — Resonate released a new study today, shedding new light on this year’s potential enrollees of the 2015 Affordable Care Act open enrollment.

“For example, ‘Peace of Mind’ is a more relevant driver for Millennials and will resonate better than a straight ‘Health’ message.”

The study reveals that the uninsured are 33 percent less likely to value their health than those with insurance. Instead, they are more likely to be driven by their desire for peace of mind, self-fulfillment, and self-image. The most commonly cited reason for lack of insurance is cost – 47 percent say they cannot afford it.

The study also shows that 70 percent of those evaluating their options on the open exchange currently have insurance. Like the uninsured, health is secondary to personal achievements. They are more likely to value self-image, as well as sense of accomplishment and pride.

“This year’s intended enrollees are significantly different than last year’s. They are younger, and they are more likely to currently be employed full-time,” said Michael Horn, VP, Research & Analytics at Resonate. “Another important difference is that 70% of this year’s exchange intenders are already insured. They are shopping for policies that better fit their budgets and life priorities.”

Age, income, and race are key markers of the uninsured. Millennials comprise 49 percent of the uninsured population and 58 percent have household incomes less than $50,000. The uninsured are 63 percent more likely to be black and 44 percent more likely to be Hispanic than those with insurance.

“Federal and state-run exchanges need to update their messaging and targeting strategies to reach this year’s evolved audiences and deliver relevant communications,” Horn continues. “For example, ‘Peace of Mind’ is a more relevant driver for Millennials and will resonate better than a straight ‘Health’ message.”

The report also explores health behaviors, media consumption habits, and demographic characteristics likely to impact enrollment. Results are based on July 2014 online interview of 14,268 adults from all 50 states.

Download the full report at resonateinsights.com/health-exchange-insights

About Resonate:

Resonate is the only company to empower brand, political and cause marketers to identify and engage with audiences based on the reasons behind people’s actions. Combining the latest big data technologies with proven research and analytic techniques, Resonate powers motivation-based analytics and targeting across all digital media channels. The ability to deliver advertising based on an individual’s social and personal values and product purchase preferences, goes beyond simple demographics to achieve greater engagement, campaign results and customer insight. For more information visit http://www.resonateinsights.com/

Contacts

Media:
Resonate
Brett Spiegel, 212-205-2154
pr@resonateinsights.com