Insurance is a complex product, and choosing among different plans is a complex decision. As states and the federal government roll out health insurance exchanges, “choice architecture”—how options are presented—will affect what consumers choose. According to LDI Senior Fellow Amanda Starc, standardizing plans and information about plans can help consumers make better decisions.
In just six days, the new Health Insurance Marketplaces will open their virtual doors and the next phase of implementing the Affordable Care Act (ACA) will begin. The Obama Administration, recognizing that the ACA holds particular relevance for the LGBT community, recently held a briefing at the White House for LGBT leaders across the US. I attended and represented the new Penn Medicine Program for LGBT Health.
Senior Advisor to the President Valerie Jarrett and HHS Secretary Kathleen Sebelius gave these opening remarks to set the stage for the day:
A new National Bureau of Economic Research (NBER) working paper by Afendulis, Chernew, and Kessler says yes. If this working paper holds up to peer review, these findings will offer an important endorsement of the Medicare Advantage program. The paper attributes large and striking reductions in all hospitalizations (22%), hospitalizations for ambulatory sensitive conditions (18%), and mortality (15%) to Medicare Advantage as illustrated in the graph below.
The Supreme Court's ruling in June to uphold the Affordable Care Act has left states with a number of decisions to make. While coverage surrounding the Court's decision was focused on the individual mandate, that mandate was part of a broader plan to ensure that every state in the nation have an operational health insurance exchange, or marketplace, by January 2014.
In the next few months, states have some things to do: