The Biden-Harris administration in the US has announced a new “Time is Money” initiative that aims to tackle “junk fees” and bad service in several sectors, including healthcare.
Part of the administration’s action plan includes allowing patients to submit health claims online. The 12 August factsheet lamented that several of the largest healthcare plans still require people to print out and scan or physically mail health insurance claim forms.
In a letter on the initiative, Health and Human Services (HHS) Secretary Xavier Becerra said that the new plan should also prioritise measures such as improving the accessibility of critical information about in-network clinicians and facilities and prescription drug formularies. He added that “helping individuals enrol in the right plan by streamlining processes and providing clear, digestible information about health coverage” should also take precedence.
The new initiative arrives following a Kaiser Family Foundation survey that found that 58% of people with health coverage reported at least one problem using their coverage in the last year.
The new initiative has been met with some criticism. US Chamber of Commerce executive vice-president Neil Bradley said: “While we agree on the problem of all-too-high costs for American families, the regulatory burden unleashed by the so-called ‘Time is Money’ initiative will cost the American people more time and money.”
Aside from healthcare, the Biden administration also outlined plans to simplify the cancellation of subscription services and memberships, as well as make companies more accountable for their bad service. The latter action, proposed by the Federal Trade Commission (FTC), would institute a rule that prevents marketers from using illicit review and endorsement practices to deceive consumers.
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By GlobalData
Alongside the 12 August factsheet, the White House has launched a portal, asking for public opinions surrounding the aforementioned issues.
