Three Key Insurance Developments to Watch for 2021
The upcoming year is already looking remarkably busy on the insurance side. I wanted to give you three areas to watch that will affect your practice. Throughout the year I’ll keep you updated on this podcast and in my newsletter. I appreciate that you see me as a resource, and I will continue to monitor carrier and revenue cycle management news for the industry. Thanks for helping the podcast grow this past year – I very much appreciate you. Here’s to a fantastic 2021!
Episode 68 talking points:
- National Council of Insurance Legislators (NCOIL) adopting the ADA’s recommendations for dental insurance guidelines. Covered topics:
- Network clarity
- Virtual credit cards as payment
- Ensuring that pre-authorizations are held accountable when treatment is performed
- Legislation requiring pricing transparency in healthcare passed as part of the 2021 Budget Plan
- Lots of institutional opposition (hospitals and American Medical Association)
- Administrative burdens and concerns over lower provider fees are cited as reasons
- Judges are not so convinced: Why is an X-ray price 'unknowable?' (recent court case)
- Will it affect dental?
- Competitive Health Insurance Reform Act
- Overturns McCarran-Ferguson Act that removes antitrust restrictions from carriers
- Hopefully will encourage more competition in the carrier market
- Did insurance companies stop innovating because they didn’t need to?
- The National Association of Insurance Commissioners (NAIC) predicts “more instability in the health insurance markets and, therefore, higher premiums.”
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