ACA … Do We Still Care One Year Later???
November 20, 2014
Yes, we still better care. Radio still has major opportunity. Each year brings new opportunity mainly because every year brings open enrollment. With this second enrollment quickly approaching, the goal is for 13 million U.S. residents to have coverage at the end of the second enrollment period.
The Affordable Care Act was signed into law by President Barack Obama on March 23, 2010. On, October 1, 2013, open enrollment in the Health Insurance Marketplace began. And, now here we are in November 2014 and nearly half of all consumers are either aware and do not understand the Affordable Care Act or are just unfamiliar with the Affordable Care Act altogether. With nearly half of all consumers not understanding or just unfamiliar with the Affordable Care Act, RADIO still has a MAJOR opportunity.
It’s disheartening to hear we are more than a year out and there are still so many consumers not aware or unfamiliar with ACA, but this is a positive for radio. This means that RADIO has the opportunity to educate and inform the consumer.
Below are just some opportunities that Radio can capitalize on:
- Education – With nearly half of all consumers being either aware but not understanding the Affordable Care Act or are just unfamiliar with the Affordable Care Act altogether, radio is the best medium for educating the consumer. Radio has a strong presence in American lives on a daily/weekly basis. Radio reaches more than 242 million Americans each week. Because of this massive reach, radio will do an excellent job educating the public and getting the word out regarding the Affordable Care Act.
- Branding – Health insurance companies have to get their message out to the public regarding what will be offered (pricing, health coverage, different options, etc.). Insurance companies have been particularly affected by the Affordable Care Act. The marketplace has become even more competitive. These health insurance companies will need the expertise of a strong sales team to help them build strategic solutions for their companies.
- LOCAL – Even though a large number of health insurance companies are nationally branded, they are different region-to-region, state-to-state, market-to-market. These health insurance companies are trying to figure out how to be local, how to be relevant, and how to be in the community. Who knows how to be LOCAL, RELEVANT, and in the COMMUNITY better than RADIO?
- Targetability – RADIO DOMINATES other mediums when it comes to targetability. If you are looking for a specific consumer, Radio has the ability to bring that consumer to you. If you are looking for African American consumers, you can turn to Urban-formatted stations. When it comes to the younger generation that the Affordable Care Act is really trying to bring in (18-34 year olds), you can turn to the CHR, Top 40-formatted stations. Radio has the ability to target and deliver.
- Personalities – When your favorite “friend in your head” Radio personality speaks – you listen. Millions of people tune in daily to the radio to listen to their best friend. They trust this person and trust his/her opinion and recommendations. Plus, when your favorite personality is out and in the community, you will meet and follow.
These are just a few ways that Radio can still benefit from the Affordable Care Act. Remember, this will be long-term money for Radio because the marketplace and enrollment process is something that will need to take place EVERY YEAR. The Affordable Care Act (ACA) is a door that has opened and with every open door comes new opportunity. It is our choice now what we do with this new opportunity. Do we take advantage of it and walk through the door or do we watch others reap the benefits of this open door?
-Nakia Smith, Sr. Sales Research Consultant
Source: RAB/Academy/Affordable Care Act