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Improvement in health insurance market isn’t as great as we made it sound

A week ago, we editorialized about increasing choice in the health care marketplace in Kentucky. Our position was based on free market principles — that more choice and competition is almost always a good thing for the consumer. We held up as proof of this the fact that one of the two main companies offering health insurance through the government marketplace had cut its rates by an average of 4.5% for next year. After the editorial was published, a reader provided us with some additional information: While CareSource Kentucky may be cutting its premiums, it’s also cutting services and increasing charges when you need health care for some. In the case of this reader, the total cost next year for keeping the same plan will likely be more because the reader will have more out-of-pocket expenses. Clearly, this situation is a lot more complicated than our previous editorial made clear.

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