A closed loophole in Affordable Care Act will cut costs N.J. residents pay for prescription drugs | Opinion

By: Lisa Schill, New Jersey Star-Ledger

More than 200,000 Garden State residents have signed up for health coverage through the insurance exchange created by the Affordable Care Act. That figure is encouraging, but the quality of coverage they're receiving is not. The available plans often strap enrollees with hundreds or even thousands of dollars of out-of-pocket medical expenses.

Fortunately, federal regulators just stepped in to address this shortcoming in the Affordable Care Act. They have issued a new ruling that ensures enrollees in New Jersey's insurance exchange plans get the protection they deserve and the medication they need.

Across the country, people were unknowingly enrolling in insurance plans that conceal the exorbitant out-of-pocket costs they will have to pay for medications. That's because these medicines come with unaffordable "co-insurance," which requires patients to pay a set slice of the product price- no matter how high it is... Read more here >>