Consumers' Misunderstanding of Health Insurance.

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Health Care Management Papers
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Adult
Female
Health Knowledge, Attitudes, Practice
Humans
Insurance Coverage
Insurance, Health
Male
Middle Aged
Surveys and Questionnaires
United States
insurance
behavioral economics
simplification
Education Economics
Health Services Research
Insurance
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Loewenstein, George
Friedman, Joelle Y
McGill, Barbara
Ahmad, Sarah
Linck, Suzanne
Sinkula, Stacey
Beshears, John
Choi, James J
Kolstad, Jonathan
Laibson, David
Contributor
Abstract

We report results from two surveys of representative samples of Americans with private health insurance. The first examines how well Americans understand, and believe they understand, traditional health insurance coverage. The second examines whether those insured under a simplified all-copay insurance plan will be more likely to engage in cost-reducing behaviors relative to those insured under a traditional plan with deductibles and coinsurance, and measures consumer preferences between the two plans. The surveys provide strong evidence that consumers do not understand traditional plans and would better understand a simplified plan, but weaker evidence that a simplified plan would have strong appeal to consumers or change their healthcare choices.

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2013-09-01
Journal title
Journal of health economics
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