The White House-backed healthcare overhaul package includes a measure to introduce competitive bidding to DME manufacturers and stops subsidies for Medicare Advantage health plans. Last year, hospitals agreed to $155 billion in Medicare and Medicaid payment reductions, primarily coming from annual inflationary updates.
“Those have all been part of the conversation and strategies moving forward,” she said. “What's been missing are the insurance companies.”
In a March 4 meeting with a handful of insurers that was also attended by President Barack Obama, Sebelius asked the executives to post proposed rate increases and actuarial data to support them online.
In a letter sent to the chief executives of Aetna, Cigna Corp., Health Care Service Corp., UnitedHealth Group and WellPoint, the secretary asked the payers to disclose a number of financial, cost and utilization data if their premiums increases surpass medical cost increases.
“The rate hikes we're seeing are so far in excess of medical trends that it doesn't make a whole lost of sense,” she said.
What do you think? Post a comment on this article and share your opinion with other readers. Submit your comments to Modern Healthcare Online at [email protected]. Please be sure to include your hometown and state, along with your organization and title.