More Massachusetts state employees chose this year to enroll in plans that limit the providers they can see, according to a Boston Globe report.
According to the report, 78,000 state employees had to renew their coverage in April and May. Of those people, the percent choosing limited network plans jumped from 19 percent to 31 percent.
The plans prevent state employees from visiting some of the most popular but most expensive hospitals, such as those in the Partners HealthCare network. Employees who choose these plans receive lower annual costs and a three-month holiday on premium payments, and those that switched to the limited network plans saved between $600 and $1,400.
Tiered and limited plans are designed to reduce costs by limiting the patient pool of high-cost providers. As patients look for cheaper healthcare options, the plans could offer a way to get more affordable care while driving down prices as high-cost providers struggle to keep their market share.
Massachusetts Attorney General Martha Coakley recently released a report that detailed the wide variations in hospital prices for similar care.
Read the Boston Globe report on limited network plans.
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According to the report, 78,000 state employees had to renew their coverage in April and May. Of those people, the percent choosing limited network plans jumped from 19 percent to 31 percent.
The plans prevent state employees from visiting some of the most popular but most expensive hospitals, such as those in the Partners HealthCare network. Employees who choose these plans receive lower annual costs and a three-month holiday on premium payments, and those that switched to the limited network plans saved between $600 and $1,400.
Tiered and limited plans are designed to reduce costs by limiting the patient pool of high-cost providers. As patients look for cheaper healthcare options, the plans could offer a way to get more affordable care while driving down prices as high-cost providers struggle to keep their market share.
Massachusetts Attorney General Martha Coakley recently released a report that detailed the wide variations in hospital prices for similar care.
Read the Boston Globe report on limited network plans.
Related Articles on Coding, Billing and Collections:
8 Problem Areas in the ASC Revenue Cycle
Fewer Physicians Accepting New Patients With Private Health Insurance
Arkansas Insurance Commissioner Asks to Set Up Health Insurance Exchange