Week 2 EOC: Health Insurance

Health insurance is now becoming a requirement that all citizens of America need to have. To go about selling it, insurance companies need to grasp the attention of potential consumers. Specifically, young people are in demand for health insurance companies. Being a young person, in order to sell to me, a company would have to use popping colors, interesting slogans, reasons for why they are the best decision and perhaps a catchy song like the CarMax commercials. With these strategies, young people will be curious and will most likely choose this company based on the attractions the commercials provide. Most companies advertise with dull backgrounds and boring messages that most people, even adults, simply look over. They lack ways to gain audiences and don’t do anything about it. Ultimately, we want an insurance company to show that they identify with us and that they care about what we like. And with these catchy advertisements, they way to market to us would be through television and mainly internet and cellular devices. Pop-ups and 30 second slot commercials on sites such as YouTube will be very useful and will certainly gain attention. And even random text messages to our phones will entice us to click on the links to the insurance sites! Besides the display of their advertisements, the content is also very important. Insurance companies are notorious for their high prices. But for healthcare, the reasons are logical. Health insurance is more expensive than it used to be for many reasons. One reason, is for the future. “By 2030, over 37 million boomers will have multiple chronic conditions.”(Carrington.edu) More than 33% of the American population will be obese, 1 of 4 Americans will have diabetes and almost 50% will have arthritis. Another reason is for the primary care and specialists. America spends 90% more on specialists to ensure the quality of professionals for their citizens. One more reason for higher health insurance is because, studies have shown that the more there are people receiving health insurance, the less the cost. Other explanations include fraud, inflation and more. But to pull in the younger audience, it is essential to point out the benefits that they will benefit from. “The benefits of expanding coverage outweigh the costs for added services.” (Urban.org) An insurance company needs to inform young people that their lives are precious and having coverage to keep them alive longer is an excellent reason to buy from them. “Health insurance is a contract between you and your insurance company.”(Healthcare.gov) Another way to approach young people would to be to use the quote above. As an insurance company, I would use that quote and relate it to the younger audience by making a comparison to their parents. As children, we are fully covered by our parents. They make our food, buy our clothing and pay our expenses and so on. And when we leave our parents’ homes, we are given a little responsibility but it is usual for our parents to help us a bit with our expenses. With that, I would tell potential younger consumers that with our help, we could cover them for the rest of their lives like their parents do. It will be through contract but similar to their natural unwritten contracts they have with their parents.

Sources:
1) http://carrington.edu/blog/student-tips/finance/why-is-your-health-insurance-so-expensive/ 
2) http://www.urban.org/publications/411569.html
3) https://www.healthcare.gov/why-should-i-have-health-coverage/