Health Insurance - Physical Therapy - Copayments, Coinsurance, and Deductibles
The legislative intent behind HB 974 is to create parity between physical therapy services and primary care services within health insurance plans. By limiting the financial burden associated with physical therapy, patients may be more likely to seek necessary treatment for injuries or chronic conditions. The bill applies to all insurance contracts issued or renewed starting January 1, 2023, indicating a significant shift in how health insurance policies handle coverage for physical rehabilitation services. This legal adjustment has the potential to alter the landscape of rehabilitation healthcare, making it more equitable and encouraging preventive care.
House Bill 974 focuses on regulating the cost-sharing requirements for physical therapy services under health insurance plans in Maryland. The bill mandates that insurers, nonprofit health service plans, and health maintenance organizations can impose no higher copayment, coinsurance, or deductible for physical therapy than what is imposed for primary care visits. This initiative aims to enhance affordability and accessibility to physical therapy for patients, thereby potentially improving overall health outcomes as early interventions become more accessible to a broader segment of the population.
While the bill has broad support among healthcare advocates who see the importance of making physical therapy services more financially accessible, some concerns may arise regarding the potential financial implications for insurers. Opponents of such regulations often worry about the increased burden on insurance companies and how this could translate into higher premiums across the board. As such, it may face scrutiny around balance—ensuring that costs remain manageable for insurers while guaranteeing that patients receive adequate coverage for essential physical therapy services.