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The Jacobson Journal: An Insurance Talent Blog

Health Highlights: Q4 2022

Posted by The Jacobson Group on Dec 2, 2022 3:50:24 PM

The health insurance industry continues to evolve, as insurers strive to best meet changing member needs and provide a holistic member experience. Now, as many health plans aim to grow their Medicare Advantage business, the ability to effectively deliver on these initiatives has become a key differentiator. According to the Kaiser Family Foundation, there are 3,998 Medicare Advantage plans available for the 2023 enrollment period. On average, a Medicare beneficiary can choose from 43 Medicare Advantage plans, compared to just 20 plans five years ago.

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Topics: Labor Market, Managed Care, Healthcare

November 2022: Labor Market Pulse

Posted by The Jacobson Group on Nov 8, 2022 4:22:55 PM

As we near the end of 2022, the insurance labor market remains relatively strong. Unemployment is low, at 1.1%, and the insurance carriers and related activities sector has added nearly 34,000 jobs since the start of the year.

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Topics: Labor Market, PULSE

Recruiter Report: Recruiting for Skills, Not Experience

Posted by The Jacobson Group on Oct 14, 2022 2:50:08 PM

The tight labor market continues to intensify, with savvy insurers seeking creative ways to attract qualified professionals and expand their talent pools. Our team regularly works with hiring managers to determine the needs of a particular role, as well as how to creatively uncover qualified, yet perhaps non-traditional, candidates. In this edition of Recruiter Report, we explore how to look beyond professionals’ experience and resumes to uncover their potential for success in a role. Below we explore the pressing question, How can insurers most effectively recruit for skills?

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Topics: Recruiter Report

October 2022: Labor Market Pulse

Posted by The Jacobson Group on Oct 11, 2022 4:24:59 PM

The overall U.S. economy exceeded job growth expectations in September. While the insurance carriers and related activities sector experienced a slight decrease in employment, industry unemployment dropped to below 1% for the first time in nearly a year. Wages also increased year-over-year across all insurance sectors.

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Topics: Labor Market, PULSE

September 2022: Labor Market Pulse

Posted by The Jacobson Group on Sep 7, 2022 1:12:08 PM

The industry’s labor market remains strong with accelerating wage growth and continued low unemployment. Wage inflation for the industry is high, trending toward an overall 6.3 aggregate percent increase in 2022, compared to just 0.8 in 2021. This increase is even more pronounced for property and casualty carriers, which are trending toward a 10.5 aggregate percent increase, compared to -0.3 in 2021; and life and health carriers, which are trending toward 7.4, compared to 0.8 in 2021.

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Topics: Labor Market, PULSE