Life may get a bit easier for millions of Americans with chronic medical conditions who struggle to pay for their medical care. The IRS recently released formal guidance that allows insurers who sponsor high-deductible health plans (HDHPs) linked to health savings accounts (HSAs) to cover 14 essential services used to treat chronic diseases like diabetes and asthma before patients hit their deductibles. That’s a big, welcome change. Previously, insurance coverage did not kick in until most patients spent over a thousand dollars out of pocket. That’s right: While in the deductible phase, many people pay the full “retail” price for critically important—and often predictable—medical services. Since up to 40% of Americans can’t afford an unexpected $400 bill, many people don’t visit their clinicians and stop filling their prescriptions for insulin, inhalers, statins and other common drugs that keep patients healthy and prevent expensive hospitalizations and surgeries. By reducing out-of-pocket drug costs, this reform will make critical medications more accessible. That’ll improve health outcomes for millions of patients—and potentially reduce overall healthcare spending. Let’s hope insurers Continue reading about New IRS Rule Will Help Lower Drug Costs
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