High Insurance Costs Linked to Abundance of Complex Choices
Quite a lot, it turns out, but there's no big surprise there.
Questions about disincentives to financing long-term health improvement led the authors to consider the source of the constant turnover, and that's where the research got interesting, according to Randall Cebul MD, director of the Center.
And it is probably the reason the paper won a prestigious Arrow Award from the International Health Economics Association for the best paper in health economics in 2011. Essentially, employers can't effectively shop for plans because the choices are so mind-bogglingly complex.
"There's so little transparency that I'm not sure that without a clear expectation of transparency and clear benchmarked parameters that employers can make an informed choice, to say nothing of the individual insurance market," Cebul says.
That's at least partially by design, they contend.
While about half of health plan turnover comes from employees changing jobs, about 40% of turnover comes from employers changing plans, says Votruba.
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