When it comes to selecting a health plan, financial features such as premiums, deductibles, copays, coinsurance, and out-of-pocket maximums tend to saturate the conversation. Health plan leaders often put greater emphasis on premium cost to steer members to their health plan. But how much does the premium price tag matter to members?

Only 26% of members in our survey responded that their plan’s financial features mattered more than other features of the plan.

Members who value financial features the most are split between the importance of a low premium and low out-of-pocket maximum. Having a low premium and low out-of-pocket max were more important to members than low deductibles, copays, or coinsurance.

While a low premium is the most appealing financial feature, it must be considered within the context of other features.

Most of our respondents (83%) indicated that they have a primary care physician (PCP), and almost 40% of all respondents felt that primary care physician (PCP) network status matters more than their premium, deductible, copay, coinsurance, or out-of-pocket maximum. Because members pay less for seeing an in-network provider, having an in-network PCP could save members money in the long run, especially if the PCP makes cost-efficient care recommendations.

When segmented by line of business, this finding was especially true for members with commercial insurance. Having their PCP in their plan’s network was the most important feature of the plan for 43% of members in our survey who had an employer-sponsored plan or an individual plan. Members in government lines of business were split between PCP network status (33%) and financial features (33%) being most important.

While some health plan leaders worry about rising premium costs being a barrier to attracting and retaining members, 71% of members in our survey said they are willing to pay extra for enhanced plan features.

Of the members willing to pay an increased cost for enhanced features, the top reason was to get guaranteed same-day or next-day appointments with their doctor. This was closely followed by virtual access to a doctor 24/7 and faster access to specialists.

Members value health plans that allow them greater access to their doctors. It’s not just the premium price tag that matters — members want accessibility.

Expand your marketing beyond low premiums and deductibles.

While financial features such as premiums and deductibles play a role in health plan selection, members value other plan features as much or more. Make sure your marketing and sales representatives highlight the full range of plan features that interest members and consider long-term costs for members, like having a plan where their current PCP is in-network.

Evaluate your network and increase access to providers.

Members want to be seen quickly and have increased access to providers. So, plans should invest in tools that expand provider access, such as telehealth and after-hours nurse lines. Plans should also evaluate their network to make sure it includes providers with digital tools to help close gaps in access, such as triage lines and flexibility for same-day appointments. Plans should build relationships with providers to maintain their network power and negotiate contracts that appeal to providers.

Create a channel for consumer feedback to highlight PCP gaps.

Plans should allocate resources for surveys and other mechanisms to collect feedback from consumers. The feedback channel should specifically allow consumers to communicate if their PCP was in the plan’s network and allow the plan to collect information about primary care physicians who may not be in their network. Plans can use this information to capture more PCPs as well as keep up with competitor offerings.