Determinants of coverage decisions in health insurance marketplaces: consumers' decision-making abilities and the amount of information in their choice environment.
OBJECTIVE
To investigate the determinants and quality of coverage decisions among uninsured choosing plans in a hypothetical health insurance marketplace.


METHODS
Two samples of uninsured individuals: one from an Internet-based sample comprised largely of young, healthy, tech-savvy individuals (n = 276), and the other from low-income, rural Virginians (n = 161).


METHODS
We assessed whether health insurance comprehension, numeracy, choice consistency, and the number of plan choices were associated with participants' ability to choose a cost-minimizing plan, given their expected health care needs (defined as choosing a plan costing no more than $500 in excess of the total estimated annual costs of the cheapest plan available).


METHODS
Primary data were collected using an online questionnaire.


RESULTS
Uninsured who were more numerate showed higher health insurance comprehension; those with more health insurance comprehension made choices of health insurance plans more consistent with their stated preferences; and those who made choices more concordant with their stated preferences were less likely to choose a plan that cost more than $500 in excess of the cheapest plan available.


CONCLUSIONS
Increasing health insurance comprehension and designing exchanges to facilitate plan comparison will be critical to ensuring the success of health insurance marketplaces.
Department of Healthcare Policy and Research, Virginia Commonwealth University School of Medicine, 830 E Main St, 4th Floor, Richmond, VA, 23298.
Andrew J
AJ
Barnes
Yaniv
Y
Hanoch
Thomas
T
Rice
D000328:Adult; D002755:Choice Behavior; D003256:Community Participation; D003657:Decision Making; D005260:Female; D062265:Health Insurance Exchanges; D006801:Humans; D058980:Information Literacy; D019458:Insurance Coverage; D007348:Insurance, Health; D020407:Internet; D008297:Male; D017057:Medically Uninsured; D008875:Middle Aged; D058991:Patient Protection and Affordable Care Act; D012923:Social Class; D011795:Surveys and Questionnaires; D014768:Virginia; D055815:Young Adult
Affordable Care Act; health insurance comprehension; health insurance exchanges/marketplaces; insurance choice; numeracy; uninsured