Obamacare exchanges help, but confused consumers are still spending too much


That said, buying coverage post-Obamacare is no walk in the park. It’s useful to think of the American health insurance marketplace, even with the consumer protections in the law, as a big casino—but without the ambience and excitement. And it’s also useful to think of many American health insurance shoppers as first- timers in Las Vegas. They might get lucky, but the odds are with the house…

One of the reasons growing numbers of us are underinsured, as I wrote last week, is because we made bad choices when picking health plans. The researchers who conducted the NBER study found that the choices made by health plan enrollees “reflect a severe deficit in health insurance literacy and naïve considerations of health risk and price, rather than a sensible comparison of plan value.” They also found that older workers, women, and low earners were especially likely to choose unwisely…

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