The “Big 3” health insurance groups have collaborated to give consumers more transparency on pricing. Aetna (AET), Humana (HUM), and United Health Group (UNH) confirmed that a nonpartisan research organization, the Health Care Cost Institute will help the companies unveil a free online pricing portal that will help keep up with the demands of the newly insured under the Affordable Care Act. Even those who have had health insurance for years want more in depth information in regards to deductibles and co-payments due to the uncertainty in the marketplace.
In a statement to Forbes.com, United Health Group said “This unprecedented initiative is testament to our belief that educated consumers benefit the entire health care system.” This new found transparency will assist in educating the consumer as well as the physicians who are providing their care. David Newman, Health Care Cost Institute's executive director reiterated this sentiment. Consumers, employers, regulatory agencies, and physicians will now have a reliable data source that they will be able to access for cost and most importantly quality of their health care services.
This one stop data source is due out in 2015.
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