Exchanges Drown Consumers in Sea of Choices

Are insurance policies too complicated to understand? They always have been and always will be unless there are changes in the way policies work, or until there are rules to make it easier for buyers. Insurance is threaded with difficult concepts such as risk and pricing trade-offs, and way too many numbers for most people. It’s not surprising that seniors don’t shop for Medicare Advantage plans even though they can save oodles of money by doing so, or that the government automatically reenrolled 4.5 million marketplace exchange customers last year — 38 percent of all the sign-ups. Left to their own devices, these millions of Obamacare policyholders may never have re-upped. In buying insurance, shoppers must weigh too many variables and face too many unknowns.