9 in 10 states fail in healthcare price transparency, study finds

When it comes to how transparent and open states are with respect to the price of healthcare services, which impact health insurance benefits, a new report indicates that there’s a lot of room for improvement. 

According to a joint study from independent nonprofit organization Catalyst for Payment Reform and HealthCare Incentives Improvement Institute, 45 of 50 states received a failing grade for how easy it was for consumers to know about how much the cost of care is. Only two states received a “B” and not a single one got an “A.”

Suzanne Delbanco, executive director for CPR, indicated that given today’s environment, where consumers are required to purchase coverage, transparency is hugely important.

“Consumers continue to take on a rising share of expenses,” said Delbanco. “While many states have made progress, there’s still much more work to be done for the majority of residents in the United States to have access to essential information on the price of healthcare.”

With the open enrollment deadline approaching, there are still a number of people who have yet to sign up for a policy through the exchanges. Exchange workers were asked by the U.S. Centers for Medicare and Medicaid Services to continue their work in helping people enroll even after the deadline, according to a memo obtained by insurance news website BenefitsPro. The cost of care is set to continue rising, and healthcare premiums for insurance benefits will only increase with it.