As more exchange enrollment data emerges, so too is a premium strategy that in the long-run may act as a market check of sorts.
The trend of positioning premiums at or next to the second lowest-price transcends insurer-types, with both publicly-traded plans and cooperatives trying it out, but some especially gravitating towards it, according to an analysis by Avalere Health.
Aetna subsidiary Coventry had the largest percentage of competitively-positioned plans across benefit tiers in its portfolio, 54 percent of plans with premiums at or below the second-lowest-cost plan, according to Avalere's analysis of exchange plans in 35 states.
Humana came in next with 45 percent of its offerings across bronze, silver, gold and platinum tiers priced competitively, followed by WellPoint with 38 percent, co-ops with 28 percent, and Aetna and nonprofit Blues each with 22 percent.
The 65 percent percent of exchange consumers who bought silver-tier plans, meanwhile, found many of lowest priced plans issued by Humana.
More than 60 percent of Humana's silver plans priced at or below the second-lowest, compared to 40 percent of Coventry's silver plans, 22 percent of co-op plans, 18 percent of WellPoint's and 14 percent of Blues silver plans, Avalere found.
On the whole, though, non-profit Blue Cross insurers that flooded many exchanges have the largest number of competitively-priced silver plans, about 370 low-cost silver options, the study found.
Price-sensitive consumers
It's still not clear how those pricings translated into market share -- and it may never be, with publicly-available data on plan-by-plan exchange sales largely an option for states.
What is clear, though, is that most exchange consumers, including those getting substantial subsidies, "are extremely price-sensitive," said Avalere Health vice president Caroline Pearson in the study.
"Carriers who hit the mark on pricing are more likely to attract consumers. While carrier-specific enrollment data is limited, premium positioning looks like a good proxy for future market share," Pearson.
And with silver plans being the base for determining premium tax credits and being the most popular choice among buyers, the benefit tier will be one of the main battlegrounds for enrollment in echanges.
"Securing enrollment in silver plans is critical for carriers establishing exchange market share," added Elizabeth Carpenter, director at Avalere Health.
"Looking ahead to 2015, we expect silver plans to remain the most popular given the link between the silver level and federal financial assistance, including tax credits and cost-sharing reductions," Carpenter said.