Insurance premiums for health plans purchased via the Small Business Health Options Program are generally cheaper than for the same plans purchased outside the SHOP exchanges. But simply because the premiums are lower is no guarantee the SHOP marketplace will succeed, researchers say.
These observations were made by researcher Jon Gabel, senior fellow, NORC at the University of Chicago, before the U.S. House Committee on Small Business on Sept. 18.
Gabel led a study of SHOP insurance plans in 26 states, comparing insurance premiums on and off market for the same fictitious small company. For carriers who offered insurance on and off the SHOPs, rates for the bronze-, silver- and gold-tiered plans were compared. The study also looked at premiums for plans offered by carriers who didn't participate in a SHOP.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
