Majority of Americans say they will patronize state health exchanges

Posted on: Wednesday, March 13, 2013

Once states' health insurance marketplaces go into effect, a considerable number of insurance customers say they will at the very least peruse the exchange programs established, a new survey indicates.

According to a recent poll conducted by global marketing information services company J.D. Power and Associates, close to three-fourths of health insurance policyholders say they will shop around for coverage using the state exchange programs, provided they are in place by the time they're required to be in January 2014.

In 2010, the Patient Protection and Affordable Care Act was signed into law, which mandates that all consumers have some type of health insurance coverage and that states make it available through insurance marketplaces.

Rick Millard, senior director of healthcare at J.D. Power, noted that many people are receptive to these exchanges because of the higher premiums many are currently paying.

"As healthcare costs continue to increase and members pay a higher percentage of the premium, health plan members are increasingly aware of exactly what they are getting for their [dollar]," said Millard. "If a member has experienced problems and perceives the possibility of having more control over costs through exchanges, this new purchasing method may become more appealing."

At 59 percent, individuals who have high-deductible plans were the most likely to indicate they intend to use these marketplace, with 45 percent of low-deductible policyholders saying the same.

Nearly half of the country has been given conditional approval to set up these health insurance marketplaces. Recently, the U.S. Department of Health and Human Services granted four states - Iowa, New Hampshire, West Virginia and Michigan - with a provisional green light to begin laying the framework for these marketplaces.

Posted In: Insurance News, Health Insurance

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