IMPORTANT: My former colleagues in the health insurance industry claim they’re waiving all costs of testing & treatment for #COVID19. This is a lie. In reality, this promise doesn’t apply to everyone & there’s no enforcement mechanism to ensure they do. Here’s the truth: (1/10)
When insurers & the Trump admin say insurers are doing their part to end the pandemic, they’re counting on Americans to be fooled by industry lingo & believe #COVID19 health expenses are covered. When I worked for Cigna I'd have gotten a bonus for achieving this deception. (2/10)
In reality, this is world-class propaganda on display. To see how the industry is pulling the wool over our eyes, go to the website of its trade group, AHIP👇 . It's intentionally close to impossible to follow what each company is actually doing. (3/10) ahip.org/health-insuran…
Here's a secret: the main purpose of insurers' web sites & documents is to provide a space to crow about their "charitable" donations, which are a tiny % of their revenues. I know firsthand: one of my roles at Cigna was heading the company’s meagerly endowed foundation. (4/10)
To see how they mislead re: #COVID19 costs, Aetna claims it "will waive co-pays for all diagnostic testing related to COVID-19... That includes all member costs associated with diagnostic testing for Commercial, Medicare, & Medicaid lines of business.” But there's a catch. (5/10)
The next 2 sentences have a hidden caveat: “Self-insured plan sponsors will be able to opt-out at their discretion. Aetna is also offering zero co-pay telemedicine visits for any reason & extending [additional benefits] to all fully insured members.” Here's why it's BS... (6/10)
Notice they mention “self-insured” plans. Nearly 80% of Aetna’s health plan members are in them (if you get your coverage through your employer, you likely are). Aetna doesn't consider these "fully insured." Which means their promises may only apply to 20% of its members. (7/10)
Of course, most folks probably have no idea whether they’re in a "fully insured" or "self-insured" plan, but it makes a world of difference, especially during this pandemic. And believe me, these companies are thrilled by your confusion. It could save them millions. (8/10)
Maybe we should expect private insurers to be dishonest, at this point. But the other problem is: There is no watchdog at any level of government monitoring this deceptive practice. In other words, there are no consequences for the insurers' deceit. And they know it. (9/10)
The answer? All insurers should state exactly what % of their members actually benefit from their promise to fully cover #COVID19 testing & treatment. And Congress should look into this ASAP.
It'd be a great chance for @katieporteroc to embarrass the insurers yet again. (10/10)
It'd be a great chance for @katieporteroc to embarrass the insurers yet again. (10/10)
