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Open Enrollment Periods and Plan Choices / Francesco Decarolis, Andrea Guglielmo, Calvin Luscombe.
- Format:
- Book
- Author/Creator:
- Decarolis, Francesco.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24156.
- NBER working paper series no. w24156
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- Open enrollment periods are pervasively used in insurance markets to limit adverse selection risks resulting when enrollees can switch plans at will. We exploit a change in the open enrollment rules of Medicare Advatage to analyze how beneficiaries responded to the option of switching to a 5-star rated plan at anytime, in a setting where insurers adjusted premiums and benefit design to counterbalance the increased selection risk. We present three findings: within-year switches to 5-star plans increase by 7-16%; demand for 5-star plans across the years does not change; the enrollees who switch to a 5-star plan during the year are in better health status than those who do not switch.
- Notes:
- Print version record
- December 2017.
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