When Americans bought health insurance in January through the Affordable Care Act, just 1 percent of them chose a catastrophic plan, according to the federal government. Premiums for catastrophic plans may be the lowest available, but deductibles tend to be much higher. The plan includes requirements that apply to other plans but doesn’t offer any benefits other than three primary care visits per year before the plan’s deductible is met.
Buyers Would Consider Google, Amazon for Insurance Needs
Two-thirds of insurance customers would consider purchasing insurance products from organizations other than insurers, including 23 percent who would consider buying from online service providers such as Google and Amazon. These are key findings published in new research from Accenture.
8 Companies Working on Healthcare Price Transparency
As a trend, healthcare price transparency has started off strong this year. Instead of simply paying a copay, users are now on high deductible health plans and are starting to care more about the prices of medical services. Although a lot of news has broken recently about price transparency companies some companies, like Castlight have been working in this space for much longer. These eight companies all offer price transparency services.
Health Care Cost Disparities Highlighted in New Report
New data from Change Healthcare shows wide price variability among some common medical procedures. The company’s Healthcare Transparency Index finds that “target” areas such as CT scans, MRIs, diabetes screening, mammograms and C-section deliveries have variable costs that range from 182% to 794% higher than the lowest cost procedure.
South Carolina Medicaid Agency Posts Hospitals’ Financial Data
The state’s Medicaid agency introduced an easy-to-navigate website showing the financial data of South Carolina’s 60 hospitals that will eventually allow patients to comparison shop for health care. The agency’s multi-stage project is aimed at bringing transparency to health care costs, ultimately driving costs down, by posting data online so that it’s easy to access and interpret, said Director Tony Keck.