pricing information without matching outcomes (results) is potentially dangerous

This is really scary to me, and one of my arguments "against" transparency.

All of us in the industry see policyholders who make decisions based on price that come back to bite them in the butt. They buy plans with no Rx coverage "because they don't take any meds".

They buy a limited benefit plan "just in case" and then are diagnosed with a serious illness that wipes out their savings. And of course the MSM criticizes the health care system as broken when the reality is, consumers make the wrong choices.

Another issue with transparency is the lazy consumer. There is literally a wealth of information available from public sources and especially from (some) carriers that is never accessed.

Probably 90 - 95% of my clients have plans without copays, and every one of them is coached in ways to keep their health care costs in line. How many actually follow through?

My guess is very few.

So . . . how much is a nosejob these days?
Bob Vineyard, CLU | Homepage | 05.09.08 - 8:29 am | #

Imagine walking into your local hospital and see the "menu" of services and prices on the wall. I wonder if you can "super-size" a procedure or "get it to go" instead of "dining" in?
Jeff Milne | 05.09.08 - 10:12 am | #