Hospital “A” charges $10,000 for a total knee replacement. Hospital “B” charges $12,000 for a total knee replacement. Hospital “C” charges $15,000 for a total knee replacement.
You go to Hospital “C” because your insurance company says they don’t/won’t cover Hospital “A” or “B” because it’s “Out of Network”.
How does this law help if your Insurance company decides where you go, and you can’t afford to pay out of pocket?
It helps because the real price (the out of network/cash price) is now going to be obvious. Providers/facilities set that rate and everything else is determined by their relationship to the insurers.
This rate you are describing is the only rate they can change and is under their control and now it’s subject to competition.
Hospital “A” charges $10,000 for a total knee replacement. Hospital “B” charges $12,000 for a total knee replacement. Hospital “C” charges $15,000 for a total knee replacement.
You go to your local opioid dealer because the governor has again shut down "non-essential" care, and a knee replacement qualifies as "non-essential" just like a nose job or fake tits, for... reasons that are beyond you plebs.
Hospital “A” charges $10,000 for a total knee replacement. Hospital “B” charges $12,000 for a total knee replacement. Hospital “C” charges $15,000 for a total knee replacement.
You go to Hospital “C” because your insurance company says they don’t/won’t cover Hospital “A” or “B” because it’s “Out of Network”.
How does this law help if your Insurance company decides where you go, and you can’t afford to pay out of pocket?
It helps because the real price (the out of network/cash price) is now going to be obvious. Providers/facilities set that rate and everything else is determined by their relationship to the insurers.
This rate you are describing is the only rate they can change and is under their control and now it’s subject to competition.
Most people have more than one option for care.
For example, I'm sure most people near large cities have half a dozen in network options for an MRI. Being able to comparison shop is a good thing.
Most of us don't live near large cities.
What percentage of Americans do not live within an hour of a city with a population of 100,000? I would guess less than 10%.