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An Early Look At SHOP Marketplaces: Low Premiums, Adequate Plan Choice In Many, But Not All, States

May 8th, 2015

This study compared the numbers of carriers and plans and premium levels in 2014 for plans offered through SHOP Marketplaces with those of plans offered only outside of the Marketplaces. An average of 4.3 carriers participated in each state’s Marketplace, offering a total of forty-seven plans. Premiums for plans offered through SHOP Marketplaces were, on average, 7 percent less than those in the same metal tier offered only outside of the Marketplaces. Lower premiums and the participation of multiple carriers in most states are a source of optimism for future enrollment growth in SHOP Marketplaces. Lack of broker buy-in in many states and burdensome enrollment processes are major impediments to success.

Source: An Early Look At SHOP Marketplaces: Low Premiums, Adequate Plan Choice In Many, But Not All, States

 


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