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Wednesday, April 30, 2014

Value-Based Insurance Design Winning Bipartisan Support

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Despite the intense controversy over the Affordable Care Act, attempts to reform the U.S. health care delivery system are winning bipartisan support in both houses of Congress, a Republican congresswoman said April 30 at a health care forum sponsored by law firm DLA Piper LLP.

Rep. Diane Black (R-Tenn.) noted that Senate Finance Committee Chairman Ron Wyden (D-Ore.) included value-based insurance design in S. 1932 introduced in January in both the Senate and House with support from members of both sides of the aisle. Value-based insurance design plans lower patient out-of-pocket costs for high-value services. Black is sponsor of H.R. 2753, which would allow Medicare Advantage plans to vary cost-sharing requirements through value-based insurance design practices.

Mark Fendrick, director of the University of Michigan's Center for Value-Based Insurance Design, said the movement to adopt value-based insurance design principals "has caught on in the private sector," and the time is ripe for moving it into the Medicare system through Medicare Advantage plans.

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