Buzzword: Out-of-network
Insurers on the outs bring us this week’s Marketplace Money buzzword: “Out-of-network.”
Most folks with health coverage know the drill: visit a doctor who isn’t contracted to your insurance company, you’ll pay extra.
But New York attorney general Andrew Cuomo says for the past decade, some insurers charged too much for out-of-network visits.
How? By purposely underestimating doctors’ “reasonable and customary charges” for those visits, leaving patients to pay more of the bill. Cuomo says it’s a “industry-wide scheme to deceive and defraud customers.”
His next step? To level reasonable and customary legal charges.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
