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How is it good? How do the insured benefit from the complete lack of price transparency besides having to pay significantly higher premiums than they would othe
by ffgjgf1 2y ago
How is it good? How do the insured benefit from the complete lack of price transparency besides having to pay significantly higher premiums than they would otherwise?
- refurb 2y agoBecause the insurance company don’t pay list price, they pay the negotiated rate. The patient doesn’t pay list or net price they pay the co-pay. There doesn’t need to be price transparency. It’s like auto-insurance - do you need to know the negotiated rate for your collision repair? No, you just pay your deductible and move on. The list price is irrelevant to the insurer and the patient.
- ffgjgf1 2y agoIt leads to unnecessary inefficiencies. e.g. different insurance companies might end up paying different prices which affects premiums. Insurance companies are inherently incentivized to maximize their costs which is one of the (if not the) biggest flaws of the US healthcare system. Other countries which have entirely privatized systems (even to a larger degree than the US) like the Netherlands solve the by directly regulating prices.