A mobile-enabled payment structure can raise cash flow and further member engagement
A recent report highlights four major trends in the individual market-related premium collections payment regularity, inbound calls, recurring payments, and mobile solutions. Some highlights include:
Forty-three percent of those ages 25 and 40 failed to pay a bill on time either because they did not have the funds available or because they forgot.
The report suggests that health plans consider age as a determining factor in how individuals will respond to their bill and, consequently, in how health plans should assist members in meeting payment deadlines.
Electronic reminders helped 62 percent of participants ensure that they paid their bills in a timely fashion.
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