Land of Lincoln Health was the last of 24 health co-ops in the US to join the insurance marketplace under the Affordable Care Act, but its CEO, Dan Yunker, is definitely at the head of the pack when it comes to enthusiasm.
Yunker took time from his busy schedule to tell Insurance Business what makes health co-ops so unique, and how his professional path veered from hockey to healthcare.
Q: How did you get into the insurance business?
A: I have an extensive healthcare finance background and have held several leadership roles in several areas of the industry, including as executive leader of self-insured plans in Illinois. It was just a good fit for me to lead this effort that’s going to serve consumers in this new healthcare environment.
Q: What makes health co-ops like Land of Lincoln a better option for consumers and the brokers who serve them?
A: As a not-for-profit health insurance provider, we are really focused on how we meet our obligations and part of that is through rate reduction and improving benefits. Unlike many startups, who have various needs from their investors, we are not investor-owned and have the opportunity to invest back into our members. That will allow us to achieve competitive rates going forward.
As we work with those brokers who want to bring good solutions to their clients, we’re here and available to work with them today and we’ll be here and available to work with them tomorrow.
Q: In your opinion, what is the biggest issue currently facing health insurance professionals today?
A: I think the biggest issue is going to be changing business models to be able to serve the consumer.
Building a company for the current consumer, versus retrofitting ourselves for the market, is a fundamentally different way of thinking that goes down to the individual purchase level. That really is a different buying behavior, and I think that will be our biggest challenge.
Q: What’s the best advice you’ve been given in this venture?
A: I love that question. I think staying true to your course and doing it with the utmost integrity has always been a staple to fall back on. That has served me as a leader and our team, as we know what we’re trying to accomplish ultimately leads to value for the customer.
Q: If you weren’t in insurance, where would you be?
I’d be a professional hockey player. Growing up, I was a hockey player. It’s my sport and the Chicago Blackhawks are my team—they’re easy to enjoy these days. Although at my age, maybe I’d better be a professional golf player.
