December 22, 2008

Consumerism Evident in Survey

Dean Halverson

Check out this article posted on Yahoo news earlier this month. A survey done by Watson Wyatt showed an important statistic – only 19 percent of employees surveyer (at large companies) were willing to pay for plans with higher premiums. What’s important is that last year it was 38 percent.

It shows that more consumers are paying attention to the cost of the care they receive and pay for. More are also starting to question quality and comparing it to cost as well. We find this trend common in all of our research – consumers simply don’t want to pay as much and are willing to shop for alternatives.

The question is, when they shop, who ends up making a sale and why? Consumerism is on the rise, is your business strategy ready to tackle it head-on?

http://news.yahoo.com/s/ap/20081210/ap_on_bi_ge/benefits_survey_1

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