Back in June of 2010 HHS announced $51 Million in grants and that was not enough it appears. This is a tough battle as health insurers come back with their business intelligence generated reports that substantiate their demands for premiums increase. To dispute and look at accurate numbers, they states need IT infrastructure to do this so now there’s some additional funds out there to get some some software/algorithms out there to work with. The original post said over $250 million would be sent and when you add up this post and the funds released in June of 2010, is this it for the state IT infrastructure budgets?
HHS Announces $51 Million in Grants For the Creation of Algorithms To Enhance Health Insurance Premium Rate Review Processes
“AHIP agrees, however, that states are best suited to review premiums because they have the experience,infrastructure, and local market knowledge needed to ensure that consumers are protected and health plans are solvent, she said.”
It sure would be nice not to have this 800# gorilla around and this is big project that will require states to update infrastructures and more. If you don’t get those algorithms developed, states are certainly going to have a hard time battling the insurance industry that has the technology of “machine guns” while the rest of us are kind of running around with “swords and daggers”. BD
WASHINGTON – The Department of Health and Human Services announced Thursday nearly $200 million in new grant funds to help states make health insurance premiums more transparent and to give states the power to stop "unreasonable premium increases."
HHS officials said this new funding opportunity builds on the $46 million HHS awarded last August to help 45 states and the District of Columbia crack down on "unreasonable" premium hikes. It also complements new HHS rules proposed last December that require insurance companies to publicly justify "unreasonable" premium rate increases.
HHS announces $200M in state grants to fight health insurance premium hikes | Healthcare Finance News
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