Top health official pushes for price transparency — 5 points

 

In the wake of growing discontent with the Affordable Care Act's insurance markets, Health and Human Services Secretary Sylvia Mathews Burwell is working to give consumers more information about what they will pay for healthcare, according to Bloomberg Business.

Here are five points:

1. The change is intended to help consumers better select coverage based on their needs.

2. Many payers like UnitedHealth have suffered major financial losses as patients sign-up for healthcare, pay for a brief period of time and then drop out of the plans.

3. Ms. Burwell said the Obama administration is working to educate consumers about the total healthcare cost, rather than only focusing on the premium.

4. For the first time in the site’s history, HealthCare.gov will show customers the cost of premiums and estimate what their total health expenses will be.

5. Ms. Burwell said United States predicted only a slight increase in ACA sign-ups for 2016 because many individuals were keeping coverage they obtained through their jobs.

 

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