The Affordable Care Act was implemented, among many other reasons, so that more Americans would be able to afford health insurance. It seems basic to say so, but it is worth a reminder that it was the core philosophy behind the law (it's even in the name). In particular, it was thought that people from the ages 18-34 who were more likely to have no insurance in the past would be more likely to get coverage under the act.
The Affiliated Group Blog
Could the United States Postal Service be involved in aspects of banking? Could that include debt collection?
A recent report from the Office of the Inspector General suggests that USPS should provide "Non-Bank Financial Services for the Underserved" of the United States. Those services could include:
Last week InsideArm hosted a Large Market Participant Summit in Washington D.C. While the summit was catered to large firms within the A/R industry, some of the key points are instructive for all agencies and companies, regardless of shape or size.
The main takeaway? Compliance will be key. It is the issue for collection agencies in 2014.
Earlier this month USA Today conducted an analysis of how the amount of bad debt for hospitals will be affected by the Affordable Care Act.
Citing the same study from the Kaiser Family Foundation that was considered by TAG in our own projections about ACA earlier this month, USA Today found that the prominence of "bronze level" plans will play a significant role in the A/R for hospitals and medical centers.
Collection agencies aren't looking for short cuts. They aren't looking for loop holes or opportunities to do wrong by consumers. Most collection agencies, committed to treating people with respect, simply want to be able to do their job.
The Kaiser Family Foundation released a study this week that looked at the issue of "Medical Debt among People with Health Insurance." In addition to looking at some of the factors for bad debt among the insured in recent years, it looks ahead to what trends might emerge with the implementation of the Affordable Care Act in 2014 and beyond.
The American Hospitals Association issued a report on Monday that indicated the continuation of a troubling trend for hospitals and medical centers.
Uncompensated care costs continue to rise. In 2012 they rose to $45.9 billion, an 11.7 percent increase from the $41.1 billion figure in 2011 (source: ACA International).
How will the Affordable Care Act affect hospitals' accounts receivable? Will it result in more bad debt?
These are just two key questions among the mass uncertainty about the Affordable Care Act. In the midst of the contentious debates, the grandstanding, name calling, finger pointing, and other tactics familiar to the world of politics, serious and pressing questions about this law have been looming.
The Telephone Consumer Protection Act (TCPA) needs to be modernized. Created to curb abusive practices by telemarketers, its application to other industries is often strained. Along with a need for reform and modernization comes a need for interpretations of the law that are fair and reasonable in the context of the year 2013. In short, there needs to be some common sense.