A key component of the Health Rosetta strategy is transparent advisor relationships. This week, legislation was introduced by the Senate HELP committee with Chair Lamar Alexander (R-TN) and ranking Democrat Patty Murray (WA) that, among other things, will require brokers & consultants to disclose all their sources of compensation.
This recent piece in ProPublica is the most important piece ever written on benefits. Not surprisingly, all 10 of the top benefits consultancies nationwide either declined to comment or didn’t respond.
The Curtain has been pulled back on brokers taking financial incentives from insurers. As a Health Rosetta certified advisor, pieces like this from Marshall Allen at ProPublica (in conjunction with NPR) are critical to build a more transparent healthcare system: https://www.propublica.org/article/health-insurance-brokers-cost-commissions-bonuses.
Knowledge is power, especially when it comes to price variations in healthcare. Many times, the best pricing exists outside of your health plan, but how to get this information in front of employees is the biggest challenge. Even the most transparent PBM arrangements, can’t protect against uninformed decisions.
Dave Chase, co-founder of Health Rosetta, penned an article titled “Have PPO Networks Perpetrated The Greatest Heist In American History?” Originally published in Forbes in 2016, it is an eye opening account of the pervasive waste in our healthcare system.
Have you ever inquired about the cost of a medical procedure or medication in advance of receiving it? What about price shopping to make sure you are receiving good value for your money? It has become standard to compare airline costs and rental cars or even drive the extra mile to save five cents on gas but when it comes to expensive tests like MRIs, we know that most people will go directly the hospital - usually the most expensive option.