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Consumers who bought into the “ObamaCare will bend the cost curve downward” promise have had a tough year or so. First premiums shot upward, and deductibles did the same. Next, insurers sharply narrowed provider networks, forcing many consumers to pay out of pocket if they want to “keep their doctor,” as Barack Obama promised. Today, the Associated Press reports on another part of ObamaCare policy that may render insurance inadequate altogether — and consumers won’t know it until the bill hits:
"You just might want to pay attention to the latest health insurance jargon. It could mean thousands of dollars out of your pocket.
The Obama administration has given the go-ahead for a new cost-control strategy called “reference pricing.” It lets insurers and employers put a dollar limit on what health plans pay for some expensive procedures, such as knee and hip replacements.
Some experts worry that patients could be surprised with big medical bills they must pay themselves, undercutting financial protections in the new health care law. That would happen if patients picked a more expensive hospital — even if it’s part of the insurer’s network.
The administration’s decision affects most job-based plans as well as the new insurance exchanges.
Other experts say reference pricing will help check rising premiums."Read the full story: www.hotair.com
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