Open enrollment periods and plan choices

Francesco Decarolis, Andrea Guglielmo and Clavin Luscombe

Health Economics, 2020, vol. 29, issue 7, 733-747

Abstract: 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 Advantage 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 decline; and the enrollees who switch to a 5‐star plan during the year are in better health status than those who do not switch.

Date: 2020
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https://doi.org/10.1002/hec.4014

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Working Paper: Open Enrollment Periods and Plan Choices (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:wly:hlthec:v:29:y:2020:i:7:p:733-747

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