The ability of health care providers and insurers to survive in today’s highly competitive market requires that they thoroughly understand marketplace needs and use that information to deliver true customer value. The objective of the present study is to illustrate how choice-based conjoint analysis can be used to create health plans that optimize value for consumers and market share for managed care organizations. The use of choice-based conjoint analysis takes the guesswork out of health plan design and promotion. By offering insight into consumer reactions to the range of plan feature choices, the research program presented in this article can help increase consumer satisfaction while aiding health plans to reach their objectives as well. The elimination of crises and ad hoc decision making raises the effectiveness and efficiency of managed care programs.