3 Key Findings on Consumer Health Plan Choices on PPACA Exchanges

Nearly 2.2 million people had selected health plans through the Patient Protection and Affordable Care Act state-based and federal marketplaces by Dec. 28, according to an HHS report.

Beyond the overall enrollment numbers, understanding how people interact with the health insurance exchanges is crucial for health insurers looking to improve product offerings and consumer experiences, according to a report from market research firm Lab42.

Based on a survey of 500 people, here are three key observations from Lab42 on consumers' behaviors and experiences with the PPACA exchanges.

1. A plurality of those surveyed (40 percent) selected a silver-level plan. Only 23 percent opted for bronze-level plans, the lowest metal tier level under the PPACA.

2. Of those surveyed, 52 percent selected coverage from Blue Cross Blue Shield, while 11 percent chose Aetna plans, 9 percent chose Humana, 9 percent opted for UnitedHealthcare and 5 percent selected Cigna.

3. Twenty-six percent of consumers reported the single most important factor for them in selecting an insurance provider and plan type was that the coverage fit their monthly budget, while 17 percent cited the coverage level as the decided factor.

More Articles on Health Insurance Exchange Plans:
4 Early Observations on PPACA Enrollment  
Humana Blames Extended Health Plans for Unbalanced PPACA Risk Pool  
5 Statistics on Americans' Experience With PPACA Marketplaces 

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