Health Insurance - Physical Therapy - Copayments, Coinsurance, and Deductibles
By mandating that health insurance plans treat physical therapy visits similarly to primary care visits concerning cost-sharing, SB725 seeks to increase the accessibility of physical therapy services. As physical therapy can be an important component of recovery and rehabilitation, this bill is expected to alleviate financial burdens on patients. Consequently, the act will directly affect policies issued in Maryland from January 1, 2023, ensuring that these new cost-sharing rules apply across the state.
Senate Bill 725 aims to regulate the cost-sharing requirements for physical therapy services under health insurance plans. Specifically, the bill prohibits insurers, nonprofit health service plans, and health maintenance organizations from charging higher copayments, coinsurance, or deductibles for physical therapy services than those imposed for primary care visits. This legislative change aims to ensure equitable access to essential health services, particularly for individuals requiring physical therapy after injuries or surgeries.
While the bill has garnered support for its intention to enhance access to necessary healthcare services, some stakeholders may raise concerns regarding the financial implications for insurers and the sustainability of such a model. There could be worries that limiting cost-sharing could affect the pricing structures of various health insurance plans or lead to higher premiums. Additionally, it will be important to monitor how these changes affect providers and their ability to offer physical therapy services under the new guidelines.