Here’s what you need to know:
1. The late call for insurers is seen as a “distress call” as competition continues to shrink over providers.
2. The exchanges open in Minnesota open in less than three months, and the rush to increase offerings “suggests significant concern about a lack of competition in the individual market, where there already were fears that premiums could spike.”
3. Healthcare consulting firm Avalere published a report predicting that competition in exchanges would decline sharply this year.
4. Only 5 percent of Minnesotans use MNsure for their insurance needs.
5. When the exchange launched in 2014, five insurers sold products through it. PreferredOne dropped out in 2015 after it suffered unsustainable losses. Blue Cross and Blue Shield of Minnesota stopped offering health plans through the exchanges after it had hiked the premiums of its clients. It will continue to offer HMO plans.
6. Several counties in rural Minnesota are left with only two insurers to chose from.
More coding, billing and collections news:
Senator pulls drug price transparency bill, blames amendments: 5 things to know
Can the ACA make a comeback? 4 key takeaways
OIG finds CMS centers are at risk for cyberattacks: 6 things to know
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.