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Covered California Helps Keep Premiums in Check, UC Berkeley Study Finds - KQED

Lisa Aliferis recently wrote for KQED about the important differences between California's "active purchaser" exchange and exchanges in other states where any plan that seeks to participate is included without negotiation of premiums and benefits.

Read the full article at: ww2.kqed.org

For example, less hospital competition was related to increased premiums in both California and New York, but low competition between insurance plans in California created a buffer to increasing premiums that New York did not experience.

The exchange is still competitive in California, but with some added regulation it takes away some of the complexity that leaves consumers overwhelmed, confused, and in a position to not make the best choice between insurance plans with seemingly similar benefits and premiums.

“We create a marketplace where consumers are in the driving seat,” said Covered California executive director Peter Lee. “[In] New York City, the consumers would be picking between 50 different products. What’s the difference between them? Tweaks on co-insurance and insurance babble that most consumers don’t understand.”

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The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purp