CMU Behavioral Economists: Health Insurance Complexity Leads to Costly Mistakes News Carnegie Mellon University


You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. The 2023 federal limit for annual out-of-pocket expenses for individuals is $9,100; the family cap is $18,200. CPT is provided “as is” without warranty of any kind, either expressed or implied, including but not limited to the implied warranties of merchantability and fitness for a particular purpose. No fee schedules, basic unit, relative values or related listings are included in CPT.


Descriptive analyses were performed to examine the composition of the respondents. We then performed descriptive statistics to get insight into how important and easy it is for the respondents to choose a health insurance policy. Differences between groups of respondents were tested using one-way ANOVA’s and Tukey post-hoc tests.

Tips for Getting the Most Out of Your Plan

Picking The Best Health Insurance For 2015 Advantage enrollees through exchanges often have agents available to assist with choices. One study found that enrollees using agents don’t appear to choose much better than those who aren’t using agents in other contexts (Gruber et al. 2020). However, that same study then provided those agents with a decision support tool and mandated that they use it to assist enrollees. Choices improved substantially, with a one-third reduction in foregone savings for enrollees (Gruber et al. 2020). Consider an administrator that is offering a few common options and is deciding whether to offer a new option that is particularly valuable for some enrollees.

  • When choosing a plan, it is helpful to remember that all plans—Bronze, Silver, Gold, and Platinum—cover the same Essential Health Benefits.
  • The coverage gains were driven primarily by increases in Medicaid coverage due to the continuous enrollment requirement that has been in effect since the start of the pandemic.
  • Political asylum–seekers fall under a separate, limited insurance plan.
  • If you expect to have many healthcare visits or require regular prescriptions, you may be better off with a Gold or Platinum plan.

Only 21 percent could accomplish this task, a figure not statistically different from chance. PPOs—the most common plan offered by employers—let you see doctors in- and out-of-network but charge the highest premiums. High-deductible health plans have individual deductibles over $1,300 and family deductibles over $2,600—but much lower premiums. Many of the respondents acknowledged that it is important to choose a health insurance policy.

This search uses the five-tier version of this plan

You can get brochures from the health plans or your human resource office. When it comes to your health care, the best surprise is no surprise. When you fill out a Marketplace application, you also can find out if you and your family qualify for free or low-cost coverage through a government program, such as Medicaid or the Children’s Health Insurance Program . Medicaid is a state-administered health coverage program for low-income families and children, pregnant women, the elderly, people with disabilities, and in some states, other adults.

What Is Uninsured Motorist Coverage? March 2023 – MarketWatch

What Is Uninsured Motorist Coverage? March 2023.

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Your QUEST Integration health plan covers medically necessary off-island and out-of-state emergency services and post-stabilization services. For non-emergency off-island, out-of-state, and out of network services, you’ll need prior authorization. If you received services before you got the Med-QUEST enrollment notification, tell your PCP or other service provider. If your current provider doesn’t accept QUEST Integration health insurance, call your health plan to help you find another doctor or provider. The health plan can help you find doctors, hospitals, and pharmacies. I moved to Pittsburgh, got a job, and my parents started asking about my company’s benefits plan.

What are the financial implications of being uninsured?

A wide variety of studies have examined choice in government plans such as Part D and Medicare Advantage, in the ACA exchanges, and in employer insurance. The broadly shared conclusion is that choices are poor and that individuals leave a lot of money on the table through these poor choices. Federal and state law give you the right to continue your health coverage for a limited time after you and your dependents become ineligible for your employer’s health plan. Companies with fewer than 25 employees, average pay of less than $50,000, and that pay half the cost of insurance for their employees, are eligible for a tax credit in 2014.

employer sponsored