Want A Clue On Health Care Costs In Advance? New Tools Take A Crack At It

Want A Clue On Health Care Costs In Advance? New Tools Take A Crack At It

Need treatment this year and want to cut costs before going to the doctor? There's a new tool for that, at least for insured patients.

Starting January 1, health insurance companies and employers offering health insurance plans must provide patients with online calculators to get detailed estimates of how much they will have to pay for various services and drugs.

Starting January 1, health insurance companies and employers offering health insurance plans were required to provide patients with an online calculator to get a detailed estimate of their needs for various services and drugs, taking into account deductibles and co-payments. costs.

This is the latest attempt to compare face value and prices from companies known for their opacity.

Insurers are required to provide cost information for 500 non-emergency services deemed "affordable," meaning patients usually have time to consider their options. The federal requirement stems from the transparency rules approved in 2020.

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Patients first contact an expert witness on a website provided by their insurance company or, for some, their employer. They can then look up the care they need using a billing code that many patients may not have; or in general terms like "knee repair" or "abdominal MRI". You can also enter the name of the hospital or doctor or information about the price of the dosage you want.

Not all drugs or services are available in the first year of using the device, but the list of 500 required items covers a wide range of medical services, from acne surgery to x-rays.

Once the data is entered, the calculator should generate a real-time cost estimate for patients.

From 2024, insurance requirements will be expanded to cover all drugs and services.

This rater requirement, in addition to other information on pricing in effect over the last two years, requires hospitals and insurance companies to publish their prices, including those agreed upon with each other, and payments for out-of-pocket or uninsured patients. . .

However, some hospitals have not fully complied with these 2021 disclosure guidelines, and the data released by insurance companies in July is so voluminous that even researchers have had a hard time downloading and analyzing it.

Pricing tools help fill this gap.

The new estimates are adjusted each year by calculating how many deductible patients still owe and the spending limits applicable to their coverage. If the service is out of network, you must also enter the amount that the insurance company pays. Patients can request to receive information on paper if they choose to do so online.

Insurers or employers who fail to provide such devices can be fined up to $100 a day for each victim, which is a great incentive to comply if necessary.

And there's a caveat: Consumers using the device must be enrolled in their health plan, and there's no guarantee that the final cost will be exactly as advertised.

In fact, "unforeseen circumstances during the process, which may include additional services or vendors, may result in significant actual cost-sharing liability," the federal regulator wrote in a description of the rules.

The insurer is not responsible for incorrect estimates.

Because the estimated cost may differ significantly from the final price, the process has turned out to be more complicated than initially thought, or another vendor has stepped in at the last minute, the risk is that "I may get a $4,000 bill and walk away." ". Because it costs $3,000 to be crazy, said Gerard Anderson, a professor of public health, global health policy and governance at the Johns Hopkins Bloomberg School of Public Health.

Many insurers have already offered versions of cost estimating tools, but studies show that only a small percentage of policyholders actually use them.

Federal regulators have challenged equipment rating requirements that many insurers are already proposing, but the new rules set out specific parameters that could be broader than in previous versions.

Explaining the final rule, the Centers for Medicare and Medicaid Services noted that in the past some calculators "only used total or average cost estimates using historical market requirements" and did not always include information about the amount a patient received. up to the annual franchise limit or cash.

The agency said this price disclosure would help people make comparisons and ultimately reduce the rise in medical costs.

But it was not found.

"A lot of people thought CMS was going to have a big impact, but they were going to wait a long time," said David Brugman, director of corporate health at consultancy firm Guidehouse.

After a short time, the result may be difficult to see.

"Most patients are slow to use these devices," says the doctor. Ateev Mehrotra, professor of health policy at Harvard Medical School.

There are a variety of reasons, including a small financial incentive to move somewhere more or less expensive if you get the same dollar pay. The best way to encourage patients to switch to cheaper providers, she says, is to create price tiers and reward patients who seek out a more affordable provider with a lower copay.

Kaiser Health News is the national news arm for in-depth health journalism. Along with policy analysis and advocacy, KHN is one of three major operating programs of the Kaiser Family Foundation. KFF is a non-profit organization that provides health information to the nation.

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