There are many places you could look for information about how the American Rescue Plan could slash your health insurance costs. In fact, it seems to be a favorite talking point of many Americans. President Biden has talked about it extensively and repeatedly since he got elected. He wants to save money and give Americans a good health insurance plan. However, does the American Rescue Plan really work?
The idea behind the rescue plan is that health insurance companies will negotiate with doctors to get lower payments. When the doctor agrees to the reduced rate, the insured can go to the doctor he prefers, but he will have to pay a higher deductible or co-pay. In return, the health insurance company will take care of his medical expenses. This way, the insured can save money.
However, it is not at all clear that the American Medical Association is behind this particular plan. On the contrary, the association is sharply critical of it. They believe that the new system would discriminate against healthy individuals, resulting in higher premiums for everyone else. In other words, everyone would end up paying more for health insurance, and that is something that the American Medical Association does not like.
The details of the plan are very confusing as well. For instance, how could the government step in to help a health insurer negotiate lower payments with doctors if they were already meeting with their own physicians? Who is going to pay for the cost difference? And how would such plans work in a free market where there are many insurers competing for patients? These are all legitimate questions that deserve answers.
There are still many questions that remain unanswered. There is no clear-cut answer as to how much the rescue plan will cut into overall health care costs, and none of us can know that for sure until congress debates and passes the legislation. At the very least, we do know that it is possible to understand the basic outline of the plan and that the ways in which it might work are rather obvious. What is less clear is how these plans could play out in the real world where they may compete against each other and cause prices to rise for some consumers while making prices drop for others.
How will these plans affect you? You can find out more about this by getting a free health insurance quote online. There are literally millions of quotes available to you for health insurance. If you want to save money, this is a great place to start. However, if you don’t want to be bothered with saving money, then you should probably skip this article and continue shopping around for individual policies.