On March 8, the Obama Administration will publish new rules for health insurance companies in the coming year.
The most significant change is that the federal government will start rating health insurance plans based on how many providers are included in their networks. The change from the Obama Administration comes in response to consumer complaints and it means that while insurers can still offer health plans with narrow networks, consumers will be able to see in advance what they are getting.
Each plan sold under the Affordable Care Act will get a government-issued label indicating how wide the plan’s network of doctors and hospitals is. Officials hope that will quell complaints about narrow coverage while still allowing for the narrow plans, which often have lower premiums than larger networks.
At the same time, the maximum out-of-pocket costs for Affordable Care Act consumers will increase next year to $7,150 per individual and $14,300 per family.
Those increases are expected to hit primarily middle-income consumers who need significant amounts of healthcare.
The new rules will be published March 8, 2016 in the Federal Register.
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