WASHINGTON — President Joe Biden addressed the White House on Friday afternoon about the latest steps his administration is taking to help cut health care costs and limit so-called insurance junk fees to consumers.
“Too many Americans are lying in bed, staring at the ceiling, and worrying about what will happen if their spouse becomes seriously ill,” Biden said, highlighting a series of regulatory moves the White House is making. . announced in the factsheet earlier in the day.
Among the administration’s new initiatives is that companies have “misleading insurance policies that could discriminate based on pre-existing medical conditions and trick consumers into buying products that offer little or no coverage when they need it most.” Draft rules have been proposed to close the loophole that would allow the provision of ‘commodities’. House said.
Measures taken by the Trump administration have made it possible for insurers to take advantage of these loopholes, the paper added.
In his remarks, Mr Biden said the new rules would require insurers to provide clear disclaimers upfront about coverage “rather than hiding it in fine print”.
Mr. Biden said that the administration will seek to protect the millions of Americans who receive unexpected medical bills they thought were in-network and covered by insurance. It also said it would introduce new rules to further curb claims.
The White House estimates that a surprise charge could cost an average of $750 to $2,600.
“We have to stop playing games that evade the law or charge exorbitant prices,” Biden said.
The administration also said it would issue guidance clarifying that it is illegal under federal law to claim that a hospital’s contracted health insurance plans are not technically in-network.
The White House said, “medical services provided by these providers are either out-of-network and suddenly subject to billing protection, or are in-network and subject to the ACA’s annual cost-sharing limit, and Either there will be more protection,” he said. Frees consumers from excessive out-of-pocket costs. ”
The administration also clarifies that health care plans and providers should make available to consumers information about the “facility costs” of care provided outside hospitals, such as clinics, according to the factsheet. It is planned.
Additionally, the Consumer Financial Protection Agency, the Department of Health and Human Services, and the Department of Treasury are working together to determine whether healthcare providers are complying with consumer protections when enrolling patients on third-party medical credit cards. I plan to.
The White House said these new actions are part of the president’s economic vision recently dubbed “bidenomics.”
In his remarks, the president claimed that Bidennomics is “reclaiming the American dream” that has been limited to “those at the top.”
Biden previously announced an effort to target junk fees in his State of the Union address this year. saying “Junk fees may not matter to the very wealthy, but for most people who live in homes like the one I grew up in, as many of you did, It is important.”
The Biden administration is trying to address surcharges that are driving up costs for consumers in other industries, such as when people travel or order tickets to concerts and sporting events.
