The CREDIT Act

This year we wrote a bill with NABIP’s Employer Working Group. The CREDIT Act, came from watching what Texas and Tennessee already do well and adding a few lessons of our own.

The idea is simple. When an employee shops and pays cash below their plan’s network rate, that payment should count toward their deductible and out-of-pocket maximum. In most states it doesn’t. The member saves the plan money and gets nothing for it. The CREDIT Act fixes that, in network or out. It doesn’t ask carriers to pay more. It asks them to count what the member already spent.

NABIP’s Annual Convention is in Atlantic City this Saturday through Tuesday, June 27 to 30. I’ll be there Saturday morning through Tuesday afternoon.

If you’re coming and you want to bring something like this to your state, or you just want to talk it through, find me. Let me know if you’ll be there so I know who to look for.

If your plan is self-funded, you don’t have to wait for any of this. You can do it today, as long as your TPA will play ball.