Patients and their families will not be fully protected under the administration’s implementation of the No Surprises Act because of a little-known, “shared savings” fee charged to employers by insurance companies.
- – U.S Minority Chamber of Commerce (USMCC)
These hidden fees are associated with out-of-network medical claims that unnecessarily drive-up insurance costs for essential healthcare for patients and businesses alike.
- The National Puerto Rican Chamber of Commerce
Shared savings fees have exceeded total administrative fees for many plan sponsors. Some may not even be aware of the total amount they are paying in these fees.
If these fees are allowed to continue under the cover of “administrative fees,” we believe they will continue creating a perverse incentive for insurers to narrow their networks, healthcare costs will continue to rise, and patients will have fewer choices for in-network doctors.
- Partnership for Innovation and Empowerment
We strongly encourage DOL to institute transparency provisions for insurance companies and to curb shared savings fees.
- Southern Christian Leadership Global Policy Initiative (SCL-GPI)
There is a significant lack of transparency since insurance companies do not routinely report their revenues from shared savings programs. We believe there should be greater transparency into the fees employers are being charged every year.
- National Black Chamber of Commerce