Microsoft Advertising Insights set out to explore the changes in the health insurance market over the past year, looking at Open Enrollment, Special Enrollment and Annual Enrollment Periods. We found the key drivers of search growth in 2020, specifically within Annual Enrollment, were non-brand and Medicare Advantage searches. In fact, Medicare Advantage is projected to dominate the market by 2025, with an estimated 71 million subscribers.
Currently, more conversions online come from Medicare-related queries than Individual marketplace queries.
If you fall under the umbrella of health insurance advertisers, we recommend placing a high importance on your non-brand keywords, as most searches start with non-brand queries. In fact, they accounted for 85% of searches in 2019 and 89% of searches in 2020.
For more tips on how to reach advertisers, as well as a lookback into learnings from 2020, click the download button below.