scooterbug44
SoWal Expert
I am a HUGE fan of the recent changes to credit card statements that make them much easier to understand and review.
Apparently similar changes to health insurance policies are also underway because of a provision in the health care bill.
Items have to be written up clearly, different companies must use the same terminology so consumers can easily compare, and even the "fine print" can't be smaller then 12 pts.
Speak plain English, health insurers told - Health - Health care - msnbc.com
"Under a little-known provision of the health overhaul law, insurers will be required to provide their benefits information on a standardized chart using the same plain English terms as other companies to help shoppers understand and compare complicated policies.
The law even forbids the dreaded "fine print," by specifying at least a 12-point type size (larger than typical newsprint). Any exceptions or limitations to coverage must be included along with the out-of-pocket costs that plan members can expect to pay.
Choosing the wrong policy can have consequences. For example, when comparing breast cancer treatment coverage under three California policies, the study found that a patient would spend nearly $4,000 for a typical treatment under one policy or as much as $38,000 under another even though both policies had similar deductibles and out-of-pocket limits.
"Health insurance should be transparent, so that consumers know what they are getting in a market filled with options that are not always equal," the researchers concluded."
Apparently similar changes to health insurance policies are also underway because of a provision in the health care bill.
Items have to be written up clearly, different companies must use the same terminology so consumers can easily compare, and even the "fine print" can't be smaller then 12 pts.
Speak plain English, health insurers told - Health - Health care - msnbc.com
"Under a little-known provision of the health overhaul law, insurers will be required to provide their benefits information on a standardized chart using the same plain English terms as other companies to help shoppers understand and compare complicated policies.
The law even forbids the dreaded "fine print," by specifying at least a 12-point type size (larger than typical newsprint). Any exceptions or limitations to coverage must be included along with the out-of-pocket costs that plan members can expect to pay.
Choosing the wrong policy can have consequences. For example, when comparing breast cancer treatment coverage under three California policies, the study found that a patient would spend nearly $4,000 for a typical treatment under one policy or as much as $38,000 under another even though both policies had similar deductibles and out-of-pocket limits.
"Health insurance should be transparent, so that consumers know what they are getting in a market filled with options that are not always equal," the researchers concluded."
