Senators seek more regulation for insurance plans that will be offered by Horizon Blue Cross Blue Shield
Two Senators in New Jersey have filed a request with the state’s Attorney General to delay one of the largest health insurance providers from offering a set of new plans. The plans are meant to be sold as money-saving solutions that would provide better coverage for health care costs. The plans are coming from Horizon Blue Cross Blue Shield and the Senators are concerned that the plans could be a detriment to both consumers and hospitals.
Senators express concern that new plans will be detrimental for consumers and hospitals
Senators Nia Gill and Joseph Vitale suggest that the state should first establish an oversight group that will be able to govern the way that health insurance providers rate care providers when they set up a tiered system. Some insurers may rate medical care professionals lower than others for reasons that are unclear, which could become a costly problem for hospitals and lead to some consumers losing access to their preferred care providers.
Health care business continues to evolve throughout the US
Over the past few years, the health care industry throughout the country has changed due to the Affordable Care Act. Hospitals and medical care providers have gone through series of consolidations and many have formed strategic partnerships as insurance companies acclimate to the provisions of the federal law. Emphasis is being placed on finding savings, with doctors and hospitals being paid to provide better results when offering care rather than simply employing the traditional fee-for-service system.
State may require a more robust regulatory structure to oversee changing insurance plans
Horizon Blue Cross Blue Shield says its plans, which were announced last month, are an adequate way for care providers to save money on the services they offer. Some state officials are concerned, however, that there is not enough regulation for such plans. The full details of the plans that the health insurance provider wants to offer have not yet been released, but these details may come to light in the coming months.
