Measures Aimed at Limiting Health Care Costs Proposed
Medically reviewed by Drugs.com.
By Physician’s Briefing Staff HealthDay Reporter
FRIDAY, July 7, 2023 -- New federal initiatives could help save Americans money on health care costs.
President Joe Biden announced plans Friday to target surprise medical bills, scam insurance, and third-party credit cards and loans that carry high interest charges, the Associated Press reported.
Limiting "junk" insurance plans is a key initiative. These are short-term policies that people sometimes use during a gap in coverage when switching jobs. They can deny basic coverage, as in one case highlighted by Neera Tanden, director of the White House Domestic Policy Council. She said a Montana man was charged $43,000 when one of these insurance providers declared his cancer a preexisting condition, the AP reported.
Another target are third-party credit cards and loans specifically used for health care. Both the Consumer Financial Protection Bureau and U.S. Treasury Department are seeking information on these methods, whose high costs can deter policyholders from seeking health care.
A third initiative builds on the 2020 No Surprises Act. For this, Biden is offering new guidance that would require health plans to disclose facility fees that are added to patient charges. It would also limit the ability of insurers who contract with hospitals to claim care was not in network, saddling patients with a bigger bill, the AP reported.
Disclaimer: Statistical data in medical articles provide general trends and do not pertain to individuals. Individual factors can vary greatly. Always seek personalized medical advice for individual healthcare decisions.
© 2024 HealthDay. All rights reserved.
Posted July 2023
Read this next
AI-Assisted Contours Superior to Cognitively Defined Prostate Cancer Contours
WEDNESDAY, July 3, 2024 -- Artificial intelligence (AI)-assisted definition of prostate cancer contours reduces underestimation of the extent of prostate cancer, according to a...
Mean Cost of Bringing New Drug to U.S. Market Is $879.3 Million
TUESDAY, July 2, 2024 -- The mean cost of developing a new drug for the U.S. market is estimated to be $879.3 million when both drug development failure and capital costs are...
Patient–Primary Care Provider Language Concordance Tied to Better Outcomes
TUESDAY, July 2, 2024 -- Patient-family physician language concordance is associated with a lower risk for adverse outcomes, according to a study published online June 3...
More news resources
- FDA Medwatch Drug Alerts
- Daily MedNews
- News for Health Professionals
- New Drug Approvals
- New Drug Applications
- Drug Shortages
- Clinical Trial Results
- Generic Drug Approvals
Subscribe to our newsletter
Whatever your topic of interest, subscribe to our newsletters to get the best of Drugs.com in your inbox.