As per reports, it has been revealed that some of the clauses in the Affordable Care Act are going to be changed during the upcoming US elections. There is both good and bad news attached to the changes of the act.
The best part would be that it would get compulsory for health insurers to provide a summary of all the health plans to customers so that they could know for what they are shelling out money from their pockets.
The bad part of the story is that health insurers have said that this summary, which is also known as Cliff Notes, would prove to quite costly to them. In the current scenario where inflation has taken a toll over the country, people have got worried that that White House administration would water down the final version of the rules.
It is reported that that last year, something similar was being proposed by authorities concerned proposed that the health insurers need to provide their customers in detail about three types of diseases and those being the out-of-pocket costs for maternity, breast cancer and diabetes.
As per the last proposal, a health insurer has to provide summary of the plan as well as the customer cost with premium charges. However, the regulation could not get active last year but it is likely to be passed out this time around.
One of the cancer patients’s said that he had to pay $50,000 out-of-pocket, but he was satisfied with the fact that he knew for what he was paying. Having estimation in advance helps one save the amount that could be needed in his later treatment.
According to America’s Health Insurance Plans (AHIP), introducing Cliff Notes would cost the health insurance companies $382 million. So, they are thinking to make cuts where ever it is possible.
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