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What will be the impact on mental health care costs due to the new parity rules by mid-2025?
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Reports from health care cost analysis organizations or government health departments
Story
Biden Administration Finalizes Parity Rules for Equal Mental Health Care Treatment by Insurance
Sep 9, 2024, 05:06 PM
The Biden administration has finalized new rules to ensure that mental health and substance-use benefits are treated the same as physical health benefits by insurance companies through parity rules. This move aims to expand access to mental health care and lower associated costs for Americans. President Biden emphasized that there should be no distinction between physical injuries and mental illnesses, and the new rule mandates equal treatment by insurance plans. The White House highlighted that less than half of adults with mental illness and nearly 70% of children were unable to receive care in 2020, underscoring the need for this regulatory change. This initiative has garnered widespread support from various lawmakers and mental health advocates, who commend the administration's commitment to improving mental health care accessibility and affordability.
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Similar markets
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