May 2023: The Affordable Care Act (ACA) continues to impact brokers and clients, and technology remains a significant aspect of the health insurance industry. In 2023, brokers must have the right technology in place to comply with health reform’s requirements while still providing excellent service to clients. This blog provides various tips for staying relevant, being more efficient, and maintaining compliance when using technology in the current ACA world.
The rapid evolution of technology continues to transform the world. In 2023, it’s incredible to think that only a few years ago, we relied on spiral-bound guides to navigate our world. Today, built-in satellite systems in vehicles and smartphones provide instant directions and location services. In 2023, over 4 billion people worldwide are using the internet, with an estimated 5G coverage of over 90% of the population in the US.
As the world changes, technology must continue to evolve to meet new demands. To remain competitive and take advantage of current trends, brokers need to embrace technology that:
Technology offers new opportunities to tap into two of the largest insurance markets in the country: the ACA marketplace and the Medicare marketplace.
Together, these markets represent over 170 million potential sales opportunities nationwide:
2023 ACA Open Enrollment Period (OEP)
2023 Medicare Annual Election Period (AEP)
2023 New Eligible/Medicare Aging-in Numbers
2023 Qualifying Event/Changes in Circumstances
To grow your business in today’s ever-changing health insurance marketplace, it’s essential you be able to adapt to market trends and embrace technological advances. Don’t rely only on your own expertise, find a trustworthy partner who delivers the services and support you may lack.
Quotit offers a variety of options and an array of valuable broker services, including:
To learn more, schedule your Quotit demo.