Fort Worth health insurance consumers are enrolled in plans with price variations for different providers for exact medical procedures within the same hospital.
Why has Fort Worth health insurance been so confusing for consumers? One major reason is the complexity of costs for procedures. According to a new study, health insurers are most likely being charged different rates for identical procedures in the same facility. A new study recently published crystallizes how this issue ultimately impacts consumers.
The analysis utilizes price data provided by the Health Care Cost Institute which includes approximately 28 percent of the employer-sponsored insurance market. Information from large insurers like UnitedHealth, Humana, and Aetna were studied. The report reflects what each insurance provider paid for when consumers visited a doctor or were admitted to a hospital or emergency room. What did the results show? Basic, routine procedures such as an MRI has a large variance in pricing for different patients in the exact same hospital. The price variation is estimated to represent approximately one-fifth of all variation nationwide.
With in-hospital price variation so influential, a major takeaway becomes clear. Larger insurers like those that provide health insurance in Fort Worth have greater influence on pricing than smaller ones. In other words, patients who belong to larger insurance plans may be charged less for certain procedures because their provider has the market size to demand lower costs for the same procedure. With less members in a plan, patients may find their plan is more costly.
Hospitals and insurance providers do not disclose itemized lists of what each procedure costs. Consequently, it makes it virtually impossible for consumers to shop for health care plans like if they were looking for automobile. Rick Thornton, a Fort Worth health insurance agent believes further analysis like this is important. “We know that health insurance is complex and difficult for consumers to evaluate. But with more transparency from hospitals and providers with the objective of smoothing out cost differences, patients will ultimately be the winners as cost-effective and efficient health care can be better administered.”
As the health care industry continues to evolve, hopefully more data will be used to provide consistent pricing for Fort Worth patients regardless of which insurance provider or plan they are signed up with.
Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies.
