Netcost, a healthcare technology company, announced Tuesday it is offering $1.5 million to help customers find a new health insurance provider for a $25,000-a-year deductible.
The company said the program is a one-time payment of $250,000 to help consumers find new providers for 2018.
Netcost said its program is aimed at the nearly 11 million U.S. consumers who receive coverage through a state health insurance exchange.
Its goal is to provide consumers with the information they need to make the right choice, it said.
The goal is that if consumers don’t find a provider, they can still save money by seeking out a qualified health care provider, said John J. Zweck, Netcost’s chief financial officer.
The company said it will be using a combination of marketing and research to reach potential customers.
“We want to help make the transition for the most people as simple as possible, and we are thrilled to offer this generous contribution to help people find the best healthcare provider,” Zwecker said in a statement.
The Netcost program is designed to help U.N. member states compete for more federal funding for the health insurance market.
The United States is the largest market for netcost, with nearly 16 million consumers enrolled in the program.
But a shortage of providers in the country, coupled with an aging population, has made it difficult for the nation to compete on an equal footing with other nations.
More:Health and human services secretary: Medicare is a ‘great place to live’In 2016, the United States was ranked 15th in the world in netcost among industrialized countries.
But as of 2018, it ranked 13th, according to the World Health Organization.
The Affordable Care Act, passed in 2010, required that insurers and hospitals offer coverage for health services and to provide discounted prices to consumers.