CENTER UPDATE | December 2022
Please help us continue our efforts to increase access to essential clinical services and enhance equity
by making a gift to the V-BID Center today
In this Issue:
- 2023 V-BID Center Summit Save-the-Date
- Top Reason for Delaying Care is Now Cost, Not COVID-19, Patients Say
- AHRQ Stats: Cost Barriers to Care Access
- Consumers Less Prepared to Handle Medical Emergencies in 2022
- Why Broad Preventive Care Coverage Is Here to Stay
- Medicaid and CHIP Mandatory Adult Vaccine Coverage to Begin October 2023
- Paxlovid Has Been Free So Far. Next Year, Sticker Shock Awaits
- Cost of COVID-19 Hospital Admissions Among People with Private Health Coverage
Top Reason for Delaying Care is Now Cost, Not COVID-19, Patients Say
According to recent data and statement by Qualtrics Chief Medical Officer, Dr. Adrienne Boissy, rising cost is the top reason Americans are deferring care, especially for mental health, nutrition and preventative care. 46% of consumers said the cost of healthcare services and the cost of living were the most common reasons for delaying care, whereas the share of consumers delaying care due to COVID-19 decreased about 11 percentage points over the last 2 years.
AHRQ Stats: Cost Barriers to Care Access
According to the AHRQ 2022 National Healthcare Quality and Disparities report, 8.8% of people reported that cost was a barrier to getting needed medical care in 2019. A higher rate (14.3%) reported the same issue as a reason they were unable to get or delayed getting needed dental care.
Consumers Less Prepared to Handle Medical Emergencies in 2022
According to a recent survey, 28% of consumers feel less prepared than last year to handle an unexpected medical emergency with out-of-pocket costs of $500 or more. Consumers cited inflation, less money in savings, decreased household income, and job loss as contributing factors.
Why Broad Preventive Care Coverage Is Here to Stay
Several healthcare experts predict that preventive services will continue to be covered despite the Braidwood v. Becerra ruling that struck down part of the Affordable Care Act’s (ACA’s) preventive coverage mandate. Additionally, a pulse survey showed that 80% of HR decision-makers won’t impose cost-sharing if the ACA mandate is overturned.
Medicaid and CHIP Mandatory Adult Vaccine Coverage to Begin October 2023
With the passage of the Inflation Reduction Act (IRA) of 2022, Medicaid and Children’s Health Insurance Program (CHIP) programs will be required to provide coverage for approved adult vaccines recommended by the Advisory Committee on Immunization Practices (ACIP) without cost sharing for certain enrollees beginning October 1, 2023. Section 11404 is one of several V-BID elements included in the IRA.
Paxlovid Has Been Free So Far. Next Year, Sticker Shock Awaits
The federal government has covered the cost of Pfizer manufactured drug, Paxlovid, for nearly 6 million Americans and has helped prevent COVID-19 related hospitalizations. However, the Department of Health and Human Services will stop supplying COVID treatments in 2023.
Cost of COVID-19 Hospital Admissions Among People with Private Health Coverage
A Peterson-KFF Health System Tracker brief found that while many private insurers and employers waived out-of-pocket costs for COVID-19 treatment in 2020, 68% of COVID-19 admissions in 2020 had at least some out-of-pocket costs. Among COVID-19 hospitalizations with cost sharing, half had out-of-pocket costs over $1,470, and a quarter had out-of-pocket costs exceeding $2,900.
Please Help Support the V-BID Center
As we near the end of 2022, we recognize our accomplishments over the past year and look ahead to all we can achieve at the University of Michigan Center for Value-Based Insurance Design. Generosity from collaborators and friends like you allows us to remain focused on equity enhancing programs that improve access and affordability to essential clinical services
You will play an essential role in the future success of the V-BID Center by making a gift today. Thank you for your support.