Projecting the demand for ancillary products will "skyrocket," Rasmussen said, "We'll see tremendous innovation with products that save members money and fill the holes in their sparse medical plans." Rasmussen also told insurance brokers he believes they will have the opportunity to provide consumers with greater value by selling options like telemedicine, advocacy and price transparency among others.
The growing popularity of these non-insurance services will be driven by several factors, Rasmussen noted. "First, only about 25 percent of small businesses will provide health insurance by 2020," Reid said. "Second, by 2020, there will be 92,500 too few physicians, resulting in limited access to service and delayed treatments." He explained that networks and prescription formularies will be reduced and out-of-pocket costs will increase, as they did nationwide in Canada during the '90s.
One of Rasmussen's most interesting predictions related to not only the healthcare industry, but politics as well. By 2020, he believes politicians will have refocused on fiscal cut backs and re-election, moving onto the next hot-button issue and washing their hands of significant involvement in healthcare related bills and industries.
Rasmussen also predicted that over the next six years there will be a split between the "traditional" broker, one who will "survive on thinner margins and make it up in volume," and a new generation of brokers who will "sell their expertise and become true advisors to their clients."
Rasmussen's own company, freshbenies, is already leading the charge into the future by providing high-value bundled services starting at $8.50 per month for a family such as: 24/7 telehealth services, advocacy services that help Americans navigate "the system" with price transparency and medical billing help , discounts on dental, vision and prescription needs, and more. freshbenies gives employers a glimpse of packages that are affordable while providing help to employees dealing with today's higher deductible medical plans.
Although services like freshbenies are not intended to replace medical insurance and are usually installed alongside a company's medical plan, smaller companies that don't provide medical insurance may utilize them to provide additional employee benefits and gain employee productivity. For more information, read Rasmussen's article titled, "5 benefits predictions for 2020" on www.benefitspro.com