Have you ever wondered how popular your health plan is, compared with the other available options? Curious about how your plan’s actuarial value (a measure of the percentage of average medical costs it covers) compares with the premium, and how that metric stacks up against other plans?
Here’s a summary of what you’re looking at:
- The x-axis shows actuarial value, which Louise explains in more detail here.
- The y-axis shows the plan adjusted index rate, which is basically a measure of average premiums.
- The actuarial value and average premiums are based on 2018 plan filings (rates were just approved by the Colorado Division of Insurance today).
- The color of the dots shows on-exchange versus off-exchange, and the regular network versus the Select network (only available in the Colorado Springs area). Note that the off-exchange dots are generally sitting on top of on-exchange dots and in some cases are fully covering them — but overall, the total on-exchange enrollment is a little larger.
- The size of the dot represents the total number of people enrolled in 2017 as measured in “Member Months” in SERFF; Kaiser’s Bronze HSA-qualified plan with a $5,500 deductible is clearly a popular option.
Let me know if you have questions about this graphic, and stay tuned for similar data visualizations of the 2018 Colorado individual health insurance market.
SERFF Tracking: KFHP-131050040 Source File: 2018.01 KFHP CO KPIF URRT.xlsm