December 11, 2015

Healthcare Trends in 2016, ACA Penalty and more in CarePayment’s News You Can Use

By CarePayment

Top Healthcare Trends of 2016  Money-managers-CarePayment

As the New Year comes upon us, PwC predicts the top ten healthcare trends for 2016. One trend includes how healthcare consumers handle their medical expenses. More than half of millennials (18-34 years old) would use a tool or service that helps plan for out-of-pocket expenses. Another trend includes finding a pricing model that is “just right” for the pharmaceutical industry. Drug prices have been a hot topic within the past few months and consumers are not satisfied with the high prices. In fact, 53% of consumers would prefer to pay the cost of the drug over time. Other trends include behavioral healthcare, more convenient access to care and enhancing cybersecurity.

Uninsured People Eligible for ACA face Average $969 Penalty in 2016

For 2015, households will need to pay an average fine of $661 for not acquiring health insurance, according to Healthcare Finance News. This penalty will increase in 2016 to $969, with some households paying up to $1,450. The mandate requires individuals to enroll in health insurance; though, it is one of the least popular components of the Affordable Care Act. Exceptions to the mandate are households who do not make enough income to file for taxes.

Senate Begins Hearing on Skyrocketing Drug Costs

The U.S. Senate began its hearing regarding the high prices of drugs. Fierce Health Finance reports this hearing is a result of Turing Pharmaceuticals CEO Martin Shkreli and his decision to increase the cost of a readily available drug by more than double its price. Healthcare professionals and consumers are enraged by this act and are calling for government regulation in the pharmaceutical industry.