Wednesday, August 7, 2013

Understanding the fundamentals of health insurance

According to recent studies, most Americans still don't understand what will happen to their health insurance when the Affordable Care Act (ACA) goes into effect this fall.  The ACA is meant to expand your current options of health care, not limit them, so which decision is the right one?

Previous research has shown that competition at the consumer level is only likely to result in reduced prices and improved quality when sufficient numbers of consumers make informed decisions. The study led by Loewenstein shows that consumers do not understand health insurance and therefore casts doubt on whether they will make the best decisions under the ACA.

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