By Rita Cook
Correspondent
Texas Metro News
AUSTIN, TX – District 9 State Senator Kelly Hancock, who represents portions of Tarrant County, alongside State Representative James Frank, filed a bill last week in the Texas’ 89th legislative session to modernize Texas’ health insurance regulations.
A press release stated, “The bills will allow insurers to offer lower out-of-pocket costs to patients who shop for better health care deals and remove outdated laws blocking transparency of provider costs and quality.”
Bills SB 926 and HB 1959 will allow insurers to reward Texans with lower out-of-pocket costs for shopping smarter while removing price and quality transparency barriers, the lawmakers are hoping.
“Patients deserve access to meaningful cost and quality data, and they should be rewarded with lower out-of-pocket costs for making smart healthcare choices,” said Jamie Dudensing, CEO of the Texas Association of Health Plans. “This legislation breaks down outdated regulatory barriers and gives Texans the tools they need to save money and improve their care.”
The idea is that this legislation if passed, will build on HB 711 from the 88th session and eliminate anti-competitive barriers.
It is believed this can be done by addressing remaining regulatory mandates that hinder transparency and patient engagement.
The bill will also allow insurers to reward patients with lower out-of-pocket costs when they choose higher-value providers and services.
Also, it will reform laws that restrict insurers from sharing provider cost and quality rankings based on nationally recognized standards, and it will establish a fiduciary duty requiring insurers to prioritize the best interests of patients when designing health benefits.
Numbers indicate healthcare shopping incentives can reduce spending by up to five percent to result in savings for families and businesses and offer better healthcare.
Overall, it comes down to these lawmakers believing SB 926 and HB 1959 will give the power back to the people to allow them to make better and more informed healthcare decisions.
