Designing and Regulating Health Insurance Exchanges
Lessons from Massachusetts
Bibliographic Data
| ID | 13776111 |
|---|---|
| Authors | Keith M Marzilli Ericson (0000-0002-5053-2385, corresponding author), Amanda Starc (California University of Pennsylvania) |
| Year | 2012 |
| Volume | 49 |
| Issue | 4 |
| Pages | 327-338 |
| Publication date | 2012-11-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | INQUIRY The Journal of Health Care Organization Provision and Financing (JOURNAL) |
| Journal identifiers | ISSN: 0046-9580 • E-ISSN: 1945-7243 |
| Publisher | SAGE Publishing (PUBLISHER • US) |
| DOI | 10.5034/inquiryjrnl_49.04.04 |
| OpenAlex | W2032920253 |
| Language | EN |
| Citations received | 2 |
| References cited | 14 |
The Massachusetts health care reform provides preliminary evidence on the function of health insurance exchanges and individual insurance markets. This paper describes the type of products consumers choose and the dynamics of consumer choice. Evidence shows that choice architecture, including product standardization and the use of heuristics (rules of thumb), affects choice. In addition, while consumers often choose less generous plans in the exchange than in traditional employer-sponsored insurance, there is considerable heterogeneity in consumer demand, as well as some evidence of adverse selection. We examine the role of imperfect competition between insurers, and document the impact of pricing and product regulation on the level and distribution of premiums. Given our extensive choice data, we synthesize the evidence of the Massachusetts exchange to inform the design and regulation on other exchanges
Actuarial science · Adverse selection · Auto insurance risk selection · Business · Competition (biology · Consumer choice · Economics · Function (biology · Health care · Health insurance · Heuristics · Imperfect competition · Insurance policy · Key person insurance · Microeconomics · Product (mathematics · Public economics · Standardization · Computer Science · Healthcare Policy and Management · Healthcare Systems and Reforms · Marketing · Primary Care and Health Outcomes
| Citations per year | 0.18 |
|---|---|
| Citation span | 2015 - 2020 (6) |
| Highly cited | No |