Open AccessPreparedness of Americans for the Affordable Care Act
Author(s) -
Silvia Barcellos,
Amelie Wuppermann,
Katherine Grace Carman,
Sebastian Bauhoff,
Daniel McFadden,
Arie Kapteyn,
Joachim Winter,
Dana P. Goldman
Publication year - 2014
Publication title -
proceedings of the national academy of sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 5.011
H-Index - 771
eISSN - 1091-6490
pISSN - 0027-8424
DOI - 10.1073/pnas.1320488111
Subject(s) - health insurance , business , preparedness , product (mathematics) , health care , patient protection and affordable care act , work (physics) , self insurance , actuarial science , health benefits , population , group insurance , environmental health , medicine , economics , economic growth , engineering , mathematics , mechanical engineering , traditional medicine , geometry , management
Significance The ultimate success of the Affordable Care Act (ACA) depends on how well the health insurance exchanges can bring the benefits of private competition to individuals in the form of lower premiums. Doing so requires that individuals, when shopping for health insurance, correctly weigh the benefits and costs of various insurance options. Our work suggests that the overall population, and even more so those most likely affected by the ACA, is not well equipped to do so. We documented low levels of ACA and health insurance knowledge in the month preceding the introduction of the exchanges. We propose that simplified options, decision aids, and health insurance product design to address the limited understanding of health insurance contracts will be crucial for ACA’s success.
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