Anecdotal evidence has suggested that Marketplace consumers are extremely sensitive to premium price when purchasing insurance. We have analyzed available insurer-level enrollment data from the five state-based Marketplaces (California, Rhode Island, New York, Maryland, and Connecticut) which have released the relevant data. We find that consumers are generally sensitive to premium price, and low-cost insurers tend to enroll the largest share. However, many enrollees have selected higher priced options, indicating there are other motivations for selecting a particular insurer, including brand name recognition, prior satisfaction, or perceived quality differences.
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