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Published on Thursday, February 23, 2012

Better Health Insurance Summaries

Better Health Insurance Summaries

Better Health Insurance Summaries

Haven’t we all seen health insurance benefit forms that seems greek to us? Finally, health insurance benefit forms that makes sense. HHS unveiled final regulations detailing the new health insurance summaries that the federal health law requires plans to give to consumers to help them make informed coverage choices. For all of us today, choosing a health plan means reading through a big text book usually the size of an encyclopedia with important information about eligibility and benefits buried in fine print. With these new rules, hopefully it will be easier for consumers to find the plan that is right for them. The rules set the design for easy-to-understand forms describing health insurance benefits. The forms are intended to provide the same details on all policies using the same plain-English terms - defined in an accompanying glossary - so consumers can easily compare policies. The law also mandates that the forms give examples of specific coverage explaining how much a plan pays on average for common medical conditions. It even eliminates "fine print" by requiring that information be printed in 12-point type, which is larger than the print in a typical newspaper article. Financial institutions, are you getting some clues here?

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Author: Anand Gaddum

Categories: Blogs, HealthCare

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