Exchange plan satisfaction rivals that of employer coverage

Consumers who purchased insurance on the Affordable Care Act exchange are just as satisfied with their health plan as those with employer plans, and they are growing more confident in their ability to cover medical costs, according to a survey published by Deloitte.

ACA consumers also appear much more attuned to cost and coverage considerations of their plan and are willing to shop around for a better plan. Respondents also felt more comfortable with out-of-pocket costs and premiums associated with the exchange plans compared to previous years.

Some notable statistics about exchange consumers from the survey:

  • 70 percent reported no financial difficulty with out-of-pocket costs over the last year
  • 34 percent said they feel prepared to handle future healthcare costs, compared to 16 percent in 2015
  • Nearly half of respondents feel confident about getting affordable care, almost twice as many as last year
  • Only 10 percent of consumers look solely at premiums when choosing coverage--nearly 1 in 4 also looked at deductibles, copays, coinsurance and benefits without much regard for the company offering the plan
  • More consumers are more willing to accept a smaller network of hospitals (27 percent versus 18 percent in 2015) or doctors (26 percent versus 18 percent in 2015)

A recent poll showed 74 percent of non-elderly Americans said their health coverage was worth the cost, and 87 percent were satisfied with their choice of doctors. Other studies show consumers have increased satisfaction in areas where market competition is higher, and prefer less expensive plans over those with more expansive provider networks.

To learn more:
- here's the Deloitte survey

Related Articles:
Customers more satisfied where health plan competition is higher
Exchange plans have narrower networks, but consumers don't mind
Most Americans happy with their health plan, poll finds

Suggested Articles

Millennials and Gen Zers are particularly feeling the impacts of COVID-19 on their health coverage, according to a new survey.

United Airlines tested this week a digital health pass on a flight from London to Newark as part of a program to kick-start global travel.

CMS is pushing new cost transparency mandates. Health plans should be preparing now rather than waiting for the final rule to be announced.