Do People Choose Optimal Health Insurance Plans?.

Format:

Video

Series:

Academic Video Online

Language:

English

Subjects (All):

Health insurance.

Consumer behavior.

Physical Description:

1 online resource (14 minutes)

Place of Publication:

[Place of publication not identified] : Latest Thinking, [date of publication not identified]

System Details:

video file

Summary:

The health insurance market is driven by the individual choices consumers make on their insurance plans. The research presented in this video explores the questions of how consumers choose these plans, whether they are able to pick the plan most suited to their situation and whether they switch to another and better health insurance plan when they have the opportunity to do so. JOACHIM WINTER explains that, after running statistical analyses and conducting experimental surveys, his research group found that consumers do not tend to pick ideal plans because often they focus too much on price and not so much on other cost-influencing factors. The researchers also discovered that switching rates to other plans are very low. These findings have implications for behavioral economics as well since they more generally offer valuable data on consumers' choice behavior.

Notes:

Title from resource description page (viewed August 24, 2020).

Part of the metadata in this record was created by AI.