New analysis suggests the exchanges didn't provide enough information on drug coverages or providers for consumers to make an adequate—or at least hassle-free—decision.
A report from Avalere Health finds that drug coverage information was often elusive and confusing for consumers shopping on the exchanges, highlighting another challenge for the exchanges under the Patient Protection and Affordable Care Act.
In nearly half of the plans analyzed by the consulting firm, it was difficult or impossible for people to determine what drugs were covered. Specifically, 38 percent of plans had no drug formulary data available, “presenting significant obstacles to consumers who are shopping for insurance and attempting to assess the value of their coverage.” In 11 percent of cases, finding covered drugs was “difficult” or “very difficult.”
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.