The post-recession recovery has seen monumental growth within the insurance industry. In fact, according to a recent PropertyCasualty 360 article, the industry has added more than 100,000 new jobs in roughly five years. The industry’s historical vitality is helping to make an insurance career more appealing to job seekers looking for stability in the wake of the recent downturn.
It is my pleasure to introduce a guest blogger for this latest post. Abbe Sodikoff is a senior vice president and health sales manager here at Jacobson, providing leadership to our subject matter experts health services team. Her insights into open enrollment are worth a read. Enjoy…
The 2016 healthcare open enrollment period is nearly here. Slated to run from November 1, 2015, through January 31, 2016, this year’s enrollment season marks the third year since the introduction of the Patient Protection and Affordable Care Act (PPACA). Despite having two enrollment periods already completed, insurers still struggle with how to handle the influx of new customers during this peak period.
It’s almost that time again. Open healthcare enrollment for 2015 is quickly approaching. With the recently announced postponement, open enrollment is now slated to run from November 15, 2014, through January 15, 2015. Despite the one-month delay, most insurers already fear that the 2015 enrollment period will prove to be rockier than the inaugural Patient Protection and Affordable Care Act (PPACA) enrollment period.
The first half of 2014 is looking strong for the insurance industry talent market. Employment is on the rise and the current unemployment rate has reverted to levels the industry has not seen since before the Great Recession.
While continued economic recovery (albeit slow) has driven gains in throughout the insurance industries, the health insurance industry has seen the second greatest gains so far this year, following agencies/brokerages. Driving this momentum is the wave of hiring that has accompanied the implementation of the Patient Protection and Affordable Care Act (PPACA). While the new health insurance law officially took effect in March of 2010, many of its major provisions—including the health insurance exchanges—were phased in this past January.
With its ruling released on June 28th, the Supreme Court has, absent an unexpected legislative repeal, cemented the Patient Protection and Affordable Care Act (PPACA) into U.S. law. Now that the judicial challenges have run their course, there is some clarity around the impacts this law will create.
In the short term, I view this development as moderately positive for the health Insurance industry and perhaps even stimulative for the health insurance labor market. Over the past several months, as the uncertainty around the Supreme Court decision grew, I have seen countless health insurance decision makers put developmental projects on hold until some clarity emerged.