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Study: Consumers May Spend $9 Billion More Than Necessary on Obamacare

Decision Science News | May 22, 2014

By 

Going through health care plans at work can be complicated, so Americans might accidentally pay for $9 billion more in health care benefits than they need when new state health care exchanges open on Tuesday as part of the Affordable Health Care Act, a new study shows.

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Online Health Care Shopping Takes Some Skill

Decision Science News | May 22, 2014

By Bill Toland, Pittsburgh Post-Gazette

 

There's a learning curve with all online transactions -- banking on the Web, buying songs from iTunes. So how long will it take America to warm up to shopping for health insurance online?

And, more importantly, how long will it take us to shop wisely?

That depends largely on the architecture of the websites through which America will do its shopping, according to a new paper written by a University of Pennsylvania Law School health insurance expert and several other colleagues.

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Poll: 47% Don’t Know Where to Get Health Care Info

Decision Science News | May 22, 2014

Fola Akinnibi, USA TODAY

About one in 10 Americans -- 9% -- say The Affordable Care Act has improved their health insurance situation in the past year, according to a new survey by Bankrate.com.

The telephone survey asked a representative sample of 1,001 Americans about their knowledge of and feelings about the law that mandates health care insurances for all Americans in coming years.

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Prof. Tom Baker on How Smart Design of Healthcare Exchanges can Save Consumers Billions

Decision Science News | May 22, 2014

When the Affordable Care Act’s “individual mandate” takes effect in October, millions of Americans will be hard pressed to select the best health insurance coverage for their needs, unless relatively simple design features are incorporated into the state and federal websites they will use to choose a policy. Smart design of those websites, the so-called health insurance exchanges at the heart of Obamacare, could save consumers and the government more than $9 billion annually.

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Chaos Ensues After Insurance Cancellation Reversal

Decision Science News | May 22, 2014

Jayne O'Donnell, USA TODAY

 

David Isenstadt has spent the past six weeks working 12-hour days, seven days a week, trying to reach all of his insurance clients with canceled policies to switch them to new policies. Now this.

President Obama's announcement Thursday that consumers can keep insurance plans that don't meet the Affordable Care Act for a year will only create chaos, insurance brokers, regulators and carriers say.

Topics: Healthcare | Read Article

Good Website Design Could Save Consumers, Government $9B on Insurance Exchanges, Study Says

Decision Science News | May 22, 2014

By Jessica Zigmond

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Insurance Shopping? Put Drug Coverage atop List

Decision Science News | May 22, 2014

Jayne O'Donnell, USA TODAY

 

It's important consumers check pharmacy benefits in their health insurance plans.

Premiums and deductibles tend to get the most attention when it comes to health insurance. Drug coverage deserves far more than it gets. And that's true whether you're shopping for insurance on one of the new health care exchanges or dealing with open enrollment at your employer.

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Navigating the New Marketplace: Could More Insurance Options Lead to Poorer Choices?

Decision Science News | May 22, 2014

Tens of thousands of people flocked to the new online marketplace this past week, in hopes of signing up for coverage that could kick in as early as New Year's Day. The federal website is working better, but as more people get through the initial application process, they may then face a possibly daunting decision: which of all the plans should they choose?

An Affordable Care Act 'promise': competition

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Biggest Obamacare Hurdle: Picking a Health Plan

Decision Science News | May 22, 2014

By 

Even if HealthCare.gov worked as well as Amazon, buying insurance isn't easy. And for many young, first-time insurance buyers, trying to pick the most cost-effective plan can involve a steep learning curve.

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Bronze Plans Often Pricier than Silver on HealthCare.gov

Decision Science News | May 22, 2014

Jayne O'Donnell and Paul Overberg, USA TODAY

 

USA TODAY analysis shows metal level assigned to insurance plans on exchange website are often meaningless when it comes to price.

 

The bronze, silver, gold and platinum levels that plans are grouped into on the federal health insurance exchange are often meaningless when it comes to price, a USA TODAY analysis shows.

Topics: Healthcare | Read Article

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