The Value-Based Insurance Design (V-BID) project, sponsored by the University of Michigan, has worked for years in helping design plans that match out-of-pocket costs with the value of services. (Image: Shutterstock)
An ongoing effort to bring more value-based practices to health care in the U.S. recently released a new report on improving value in the Affordable Care Act’s (ACA) individual marketplace. The Value-Based Insurance Design (V-BID) project, sponsored by the University of Michigan, has worked for years in helping design plans that match out-of-pocket costs with the value of services—more effective services have lower cost sharing, less-effective procedures and services have higher cost sharing.
According to the University of Michigan’s V-BID program, their new project aims to create a V-BID approach for the ACA’s individual market and illustrate the tradeoffs created by such a plan.
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