How to grow your health plan without increasing costs

March 19, 2021
Josie Rasberry

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All health plans want to grow their membership. Health sharing communities, large health plans, discount medical plans, limited benefits medical plans, and everything in between are looking to stand out to potential members and grow their business. Unfortunately, acquisition costs are sometimes a barrier to the growth you strive for. However, there are ways to grow your membership without significantly increasing costs! Let’s look at some of these cost-effective tactics below.

Attend local events to spread the word.

Try attending your local events to get free exposure. Jump in on health fairs, chamber meetings, and other local events to get in front of your community at a low cost. Plus, potential members will trust you more when they see you’re involved in their local community. Showing an interest in the local community can also help you retain members as they see you care about them and their local needs.

Connect with influencers and other leaders.

I know, the word “influencer” might make you think of a 20-something-year-old Instagrammer. But that’s just a stereotype! Anyone with a large following, expertise in their industry, or who garners a lot of trust and respect is an influencer. The healthcare industry has several influencers you can connect with to get free, valuable exposure. If a healthcare influencer shares an article or blog about health sharing, make sure to share it and tag them. Have leaders at your health plan join in on conversations about healthcare to help spread the word about your community.

Social media is your friend.

In the same vein as influencers, social media is one the best free tools to get widespread exposure. You can run paid social ads to target very specific audiences that you want to acquire, but even free social media can help you reach a lot of people. According to Sprout Social, 57% of consumers will follow a brand to learn about new products or services. After that initial follow, 91% of consumers will visit a brand’s website and 89% will buy from that brand.

Offer help even before someone becomes a member.

Don’t worry, I’m not suggesting you offer health insurance to someone who’s not a member. What I mean is, offer free blogs, podcasts, guides, and infographics to help people make healthcare decisions. Health insurance can be pretty confusing and daunting to most Americans, so consider creating a series of blogs that break down common health insurance terms. To help people pick the right health plan, you could create a decision tree and post it to social media. These are all no-cost ways to reach potential members and positively build your health plan’s reputation.

Contrary to what you might believe, acquisition costs don’t have to suck the life out of your health plan’s budget. Following the tips in this blog can help you grow your membership for little to no cost.

Download How to Leverage Ambulatory Surgical Centers for Lower Costs and Higher Satisfaction

Discover how TPAs, health cost sharing groups, and limited benefit medical plans can benefit from the use of ASCs.

Is Your Health Plan a Tech Whiz or a Dinosaur?

Take the quiz to find out!
TAKE THE SURVEY

Download the Patient Advocacy 2.0 White Paper

Discover what health plan members had to say about the value of patient advocacy in our survey.

Download the Complete Guide to Retaining Health Plan Members.

Learn the best strategies and tips for retaining your members while keeping costs low.

Download the Complete Guide to Growing Your Health Plan Membership

Learn the best strategies and tips for growing your members while keeping costs low.

Download the Complete Guide to Lowering Member Costs

Discover what health plan members had to say about the value of patient advocacy in our survey.

Download Healthcare Consumerism 101: A Playbook for Health Plans

Learn the best strategies and tips for retaining your members while keeping costs low.

Download Your Guide to the Transparency in Coverage Rule

Discover how the the new rule will affect TPAs and health plans and how you can start your journey to compliance.

Download Your Guide to Unique Benefit Offerings that Don't Break the Bank

Discover how to add value to your health offerings that delight clients and members but don’t cost a fortune.

Download the Complete Sedera Case Study

Discover what health plan members had to say about the value of patient advocacy in our survey.

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