The fact that a significant minority chose more expensive plans suggests that other factors like existing customer satisfaction, perceived quality differences, brand name recognition, and other concerns also influence consumer choice.
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Marketplace Plan Choice: How Important Is Price?
Price largely drives consumer choice for health insurance coverage.
The report draws on plan selection data released from state marketplaces in California, Rhode Island, New York, Connecticut, and Maryland.
In 2015, 80 percent of consumers selected plans in the two least-expensive tiers (out of four), but significant numbers did not choose the cheapest plan within each tier.
The majority of consumers were highly sensitive to monthly premium costs when selecting a plan.