A New York bill would force insurance companies to reveal their out-of-network reimbursement policies and prohibit approval of health plans that do not include coverage of out-of-network medical services, according to a Daily Bedford report.
It would also require insurance companies to disclose the anticipated out-of-pocket costs for specific out-of-network healthcare services. This is the second time since January that state Senator Greg Ball (R-C, Patterson) has proposed the legislation. He said insurance companies are raking in enormous profits at the expense of working families.
Bennie W. Chiles III, president-elect of the New York State Neurological Society, said the bill is the most important piece of healthcare legislation in New York currently. "In effect, what we are seeing here is increased premiums, increased profits for the insurance companies with decreased benefits to patients, decreased patient chose and decreasing patient access to care, and all these things need to be preserved," he said.
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It would also require insurance companies to disclose the anticipated out-of-pocket costs for specific out-of-network healthcare services. This is the second time since January that state Senator Greg Ball (R-C, Patterson) has proposed the legislation. He said insurance companies are raking in enormous profits at the expense of working families.
Bennie W. Chiles III, president-elect of the New York State Neurological Society, said the bill is the most important piece of healthcare legislation in New York currently. "In effect, what we are seeing here is increased premiums, increased profits for the insurance companies with decreased benefits to patients, decreased patient chose and decreasing patient access to care, and all these things need to be preserved," he said.
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22 Statistics on Leading Payors From Physician Report
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Key Developments and Strategies for Medicare Reimbursement