Data analysis from the consulting and research firm which goes by the name Avalere, has added weight concerning insurance company complaints about special enrollment periods. Apparently, special enrollments that help Americans sign up for health coverage secondarily under the Affordable Care Act are charged five percent more than those who sign up during the annual fall enrollment.
As Forbes reports, healthcare insurance companies like Aetna, UnitedHealth Group and Anthem along with various others have criticized this new policy because it has made it difficult to make ends meet and manage costs. The analysis encompassed over 900,000 fellow Americans who had signed up during the special enrollment period in 2015.
The problem arises when consumers opt for special enrollment. Most of them have relatively higher healthcare spending than those who choose a plan during fall. In addition, patients of special enrollment stay in the program for shorter periods of time.
For such reasons, the Obama administration has taken up the initiative to work with insurers and reduce special enrollment plans. This year saw an end in special enrollment period like last year's efforts to provide Americans a second chance when they filed their taxes in April in order to circumvent penalties for not signing up.
According to insurers, actuaries need information regarding premium payment, individual health issues, along with ages and other characteristics to cater expenses and premiums paid in claims from so-called 'risk-pools'. So much so, allowing for additional sign-up periods interferes with risk planning of health insurance companies. Plus penalties that follow through for not having health coverage aren't large enough. This is also one of the reservations insurers are having regarding ObamaCare.
Health policies are undoubtedly one of the foremost things that any polity must ensure to execute. They're solely for the peoples' benefit. However, any health policy that needs to reach out effectively to all must also encourage and incentivize people to be continuously insured. Steps ought to be taken to allow coverage for everyone irrespective of affordability. Political statements have met this issue with apparent determination, claiming that the administration will work with the Congress towards this critical goal.
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