Legislation to address out-of-network healthcare costs must provide consumers with clear, reliable information on pricing and balance the need to rein in unexpected nonnegotiable bills with limiting increases in health insurance rates, the New Jersey Business & Industry Association (NJBIA) said today.
Testifying before the Assembly Financial Services and Insurance Committee, Mary Beaumont, NJBIA vice president for Health and Legal Affairs, said employers want to provide health insurance to their employees, but cost increases are making it increasingly difficult.
“Some employers fear that the next renewal will force them to drop coverage because the rate increase will be more than they can cope with,” she said in testimony prepared for the committee.
“Out-of-network costs play an increasingly significant role in the rising cost of healthcare for both large and small employers in New Jersey, triggering both higher premiums and out-of-pocket expenses,” Beaumont added.
Go here for a copy of her full testimony.