The California HealthCare Foundation commissioned the design and testing of a standardized label that could potentially be required for all health insurance products. Called "Coverage Facts," the label prototype would allow consumers to easily compare policy costs, benefits, and exclusions. It would also provide measures of overall "value," including:
- Percent of expenses paid by insurance;
- Annual out-of-pocket expenses; and
- Total annual cost.
The issue brief, which summarizes the study's findings, is available here.