Latest Government Update regarding Out of Pocket Costs:
The departments of Treasury, Labor and HHS are poised to propose a rule that would require employer-sponsored group plans and health insurance carriers to provide plan enrollees with estimates of their out-of-pocket costs for all covered health care items and services via a self-service website. The proposal would also require insurers to disclose negotiated rates with health care providers and past payments for out-of-network providers.
This is a huge move for most employees who are covered by their employers are never told what their OOP (out of pocket) costs may be. Hence, coverage from another source may prove less costly, higher quality of service and deferring coverage may give the employee additional monies or benefits.