From Products To Purpose: Leading Through Change In The Health Insurance Industry

Health insurance costs are rising—again. Between 2022 and 2025, average premiums for private health insurance plans—including those purchased through the ACA Marketplace and directly from insurers—increased by 15%, reaching an average annual cost of $7,452 this year.

Key takeaways

1. 1. The health insurance industry is transitioning from transactional sales to comprehensive financial planning, emphasizing the need to build trust and deliver value through integrated and layered protection.
   2. Agency leaders should educate clients on the benefits of a holistic insurance portfolio, which includes various products like hospital indemnity insurance, critical illness policies, life insurance with living benefits, and fixed indexed annuities, to address financial and emotional goals.
   3. To foster innovation and confidence, the industry should embrace a culture of learning and experimentation, training agents to think like planners and empowering them to deliver certainty in uncertain times.