Voluntary Participation Rates

Cost: $2,000; published 2017

Good participation rates are critical to success in the voluntary market, and without a successful enrollment (initial or annual), any case can quickly go downhill. But what is considered a “successful” enrollment? What participation rates are “normal” for voluntary products?

The objective of the 2017 Voluntary Participation Rates Spotlightâ„¢ Report is to provide comparative data on the participation rates experienced by voluntary carriers. The study provides data on:

  • Overall voluntary participation rates
  • Changes to voluntary participation rates in the last 2-3 years
  • Participation rates by group size
  • Participation rates by product line
  • Participation rates by enrollment methodology
  • Enrollment strategy impacts on participation rates
  • Participation improvement strategies

It is important to note that while participants were not able to provide data on all measures, this report provides a valuable snapshot for carriers to compare their own results to others in the industry. Where appropriate, the report also compares findings to the previous report published in 2014.

 

View Table of Contents

1. Executive Summary

A. Report Objectives

B. Key Findings

C. Methodology

2. Detailed Findings

A. General Information

1. Voluntary Products Offered

2. Group vs Individual Platform

B. Voluntary Participation Rates Results

1. Overall Average Voluntary Participation

2. Average Participation Rate Changes

3. Participation by Group Size

4. Participation by Product Line

5. Participation by Enrollment Condition

C. Impacts on Voluntary Participation

1. Participation and Core Enrollment

2. Participation and “On- or Off-Ballot” Enrollment

3. “Off-Cycle” Enrollment Participation

4. Active Enrollment Requirements and Participation

5. Participation and Online Product Sequencing

6. Communication and Marketing Impacts on Participation

D. Enrollment Strategies and Participation

1. Number of Products Typically Enrolled

2. Basis for Participation Requirements

3. Participation Results Compared to Pricing Assumptions

4. Action if Minimum Participation Not Met

E. Ongoing Participation Strategies

1. Adding Products in Subsequent Years

2. Assessment for Account Growth Potential

3. Most Limiting Factor to Improving Participation Rates

4. Future Changes to Improve Participation Rates

5. Importance of Improving Participation Rates

6. Future Expectations for Participation Rates

 


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