ACA Premiums Increase 8.2 Percent
Premiums for 2015 health insurance plans sold in government-run marketplaces will increase an average of 8.2 percent, according to a new analysis. HFMA Announces New Best Practices for Patient Financial Communications
The Health Research Institute at PwC found a wide range in premium changes in the 29 states and the District of Columbia where it examined filed rate changes. The average rate increase would raise the average monthly premium—before federal subsidies—to about $385.
HFMA Analysis: "The 8.2 percent average increase masks a significant amount of variation not only across states, but even within individual markets," said Chad Mulvany, director of healthcare finance policy, strategy and development for HFMA. "Given the limited claims experience plans have from which to set rates for 2015, I expect we will see similar swings in pricing next year. As a result, we'll likely see a significant amount of churn across plans during open enrollment as consumers look for the product with the lowest out-of-pocket premium cost." Read more here.
Every day, healthcare finance professionals conduct sensitive financial discussions with patients. But there have been no accepted, consistent best practices to guide them in these discussions—until now.
On Oct. 28, HFMA announced best practices for patient financial communications that provide tangible guidance for communicating with patients about their financial responsibility for health care.
“Healthcare financial interactions can be complex and confusing because of complicated payment structures, dozens of different payers and forms, and varied government programs,” says HFMA president and CEO Joseph J. Fifer, FHFMA, CPA. “When you add the reality that patients are becoming responsible for greater proportions of their healthcare costs, clear guidelines and communication are more important than ever.”
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