Under the Patient Protection and Affordable Care Act, health insurers will be required to issue "clear, understandable and straightforward information" on what their health plans cover, what limitations there are and how much insurers will actually pay for services, according to a news release from the Department of Health and Human Services.
HHS, the Department of the Treasury and the Department of Labor issued the final rule today. They expect the more concise and comprehensible health plan language will also make it easier for patients and employers to compare health plans, according to the release.
The new health plan explanations will go into effective around Sept. 23, 2012, and consumers will gain access to two main documents:
1. A concise "Summary of Benefits and Coverage" that can be used as a comparison tool among other health plans.
2. A uniform glossary of terms commonly used in health coverage language, such as "co-payment" and "deductible."
The final rule can be viewed in its entirety here (pdf).
HHS, the Department of the Treasury and the Department of Labor issued the final rule today. They expect the more concise and comprehensible health plan language will also make it easier for patients and employers to compare health plans, according to the release.
The new health plan explanations will go into effective around Sept. 23, 2012, and consumers will gain access to two main documents:
1. A concise "Summary of Benefits and Coverage" that can be used as a comparison tool among other health plans.
2. A uniform glossary of terms commonly used in health coverage language, such as "co-payment" and "deductible."
The final rule can be viewed in its entirety here (pdf).
Related Articles on Health Insurers:
More Insurers Shift High Out-of-Network Costs on Patients
3 Largest Insurers in Washington Amass Combined $2.4B Surplus
UnitedHealth to Offer Value-Based Contracts for Physicians, Hospitals