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President Trump has issued a multi-faceted executive order to reduce costs and increase pricing transparency in the health care and insurance system.
The parts of his order that could affect benefits that are part of employer-sponsored plans include:
A new survey has found that many American workers are struggling with medical bills even though they have employer-sponsored health plans.
The good news from the survey was that 81% of respondents said they had health insurance, which meant they were 19% more financially fit than people without insurance. They were also happier.
A new report by the trade publication Modern Healthcare shows just how little short-term care plans spend on enrollees’ medical claims.
The report found that some plans spent as little as 9 cents of every premium dollar they collected on medical care.
The average paid out among the short-term plans analyzed in a report by the National Association of Insurance Commissioners was 39.2%. That’s a far cry from the 80% of premiums health plans are required to spend on medical care to comply with the Affordable Care Act.
The much-maligned “Cadillac tax,” which was supposed to be implemented as a tax on high-value group health plans with premiums above a certain level, may finally be seeing the end of the road.
Already the implementation of the tax, which was created by the passage of the Affordable Care Act, has been postponed twice. It was originally supposed to take effect in 2018 under the ACA. The tax was delayed two years by Congress in 2016, pushing implementation ahead to 2020. It was delayed again in 2018 and is currently scheduled to take effect in 2022.
The Trump administration has decided not to pursue a policy that would have put an end to rebates paid to pharmacy benefit managers, which could put the focus again on how drug companies set their prices.
The proposal would have barred drug companies from paying rebates to PBMs that participate in Medicare and other government programs. According to the administration, the proposed rules were shelved because Congress had taken up the issue to control drug costs.
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