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Software Shows Actual Health Insurance Rate Changes in Phoenix

Posted by Andrew Day on Mon, Nov 21, 2011 @ 04:06 PM

Business Intelligence Software Gives Insurance Companies Visibility Into the Phoenix, AZ Market

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Business intelligence software for insurance companies quickly gathers enormous amounts of plan data.  The data can be quickly turned into information that could be useful to the following internal groups: procurement, sales, intelligence teams, and executives.

The following rate change chart displays the overall health insurance rate changes for a 42 year old male in 85008 - Phoenix, AZ over the course of 2011. The chart was produced quickly and easily from software for insurance companies

Insurer

Month

Change Detail

Aetna

May

5.5%-6.5% Increase to All Plans

 

July

3% Increase to All Plans

 

October

11% Decrease or Coverage Change

Assurant

July

12% Increase to HMO Plans

 

November

20% Increase to All Plans

Blue Cross Blue Shield

July

3% Increase to All Plans

 

October

Increase or Decrease by a couple dollars

Celtic

April

3%-4% Increase to All Plans

 

June

6.4% Increase to All Plans

Cigna

April

3% Increase to All Plans

 

July

8% Decrease to HSA Plans

 

 

6% Decrease to Open Access Plans

 

 

1.2% Decrease to Open Access Value Plans

 

October

3% Increase to All Plans

Companion

May

Left Phoenix

Health Ins. Innovations

May

Changed Plans Completely

 

August

Changed Plans Completely

Health Net

July

3%-10% Increase to All Plans

Humana One

April

3% Increase to All Plans

 

July

5% Increase to All Plans

 

September

9% Decrease to HSA Plans

IHC Group

May-Nov.

$3 Increase to All Plans each month

 

December

7.5% Decrease to All Plans for a Net Decrease of $2-$3

United

April

7% Decrease to All Plans

 

July

2.5% Increase to All Plans

 

October

2.5% Decrease to All Plans

Arizona had quite a mixed year.  Aetna, Cigna, IHC Group, and  United all underwent rate decreases of the course of the year.  Meanwhile, Assurant, Blue Cross Blue Shield, Celtic, Health Net, and Humana One all raised rates.  Assurant underwent the most drastic changes, raising rates by 35% during 2011.

Any number of conclusions can be drawn from this data.  This particular view shows the rate of change of what was offered to individual applicants over the course of 2011.  Business intelligence software for health insurance companies provides the facts that allow for the competitive insights that can be applied to marketing, sales, and executive management decisions.

Tags: Health Insurance, insurance rate changes, Arizona, Phoenix