Healthcare provider Legacy is warning 200,000 of its clients that their healthcare costs could rise significantly if contract negotiations with Regence BlueCross BlueShield of Oregon fail. The potential price increase hinges on whether Legacy can come to an agreement with Regence by the end of Sunday. If a deal is not reached, patients insured with Regence could find their providers out of network, resulting in higher costs for their care.
Legacy’s Chief Population Health Officer Merrin Permut has been advising patients to contact their insurance company to inquire about the differences between in-network and out-of-network costs. She warned patients of the looming possibility of contract termination starting April 1. In press releases, both sides have been exchanging tough rhetoric as they engage in brinkmanship negotiations.
Regence stated that they offered Legacy a competitive contract on March 8, which has yet to be accepted or rejected. Legacy countered by suggesting that Regence has the financial means to compromise on the contract terms, citing the insurance company’s profitable recent years compared to Legacy’s financial losses following the COVID-19 pandemic.
As the negotiations continue, uncertainty looms for Legacy patients who may face higher prices if an agreement is not reached before the contract expiration date.
