The individual and small employer group markets for health insurance cover more than 30 million Americans today. With passage of the Affordable Care Act in 2010, these markets experienced considerable changes in how they are regulated — changes that affect consumers’ access to coverage, plan choices and affordability.
A new University of Minnesota School of Public Health study recently published in the journal Health Affairs, provides a comparative analysis of performance with respect to plan choice and affordability for the individual on-Marketplace, individual off-Marketplace, and small group market segments across the United States in 2018.
“When the Affordable Care Act was passed, many policymakers questioned how the individual and small-group markets would fare as a result of the new regulations,” said lead author and professor, Dr. Jean Abraham. “This study provides a current snapshot of how the individual and small-group markets are performing across states, including the mediating effect of insurance market competition on plan choice and affordability.”
Key findings from the study include: