PREDICTIONS FOR TRAVEL IN 2022 Over the past year and a half, seismic shifts propelled the world to shift to an evolving version of the ‘new normal.’ Along with that shift, the travel industry has also been repeatedly redefined. While COVID-19 is not yet in the rearview mirror, a sense of hope is beginning to take place. To explore the optimism, Booking. com commissioned extensive research with U.S. travelers, combining it with its proprietary data and insights to generate predictions for 2022 travel.
WHAT YOU NEED TO KNOW ABOUT NEW HEALTH PLAN TRANSPARENCY RULES Article provided by HFC Insurance Regulations are slated to take effect over the next few years that will greatly increase the transparency requirements for group health plans. The regulations issued under the Trump administration will require health insurers in the individual and group health markets to disclose cost-sharing information upon request, make cost-sharing information available on their websites and disclose negotiated rates with in-network providers. The rules are designed to help health plan enrollees choose the plan that is best for them and their family, as well as to give them a full picture of what they can expect to pay for services as part of their deductibles, copays and coinsurance. There are a few different parts to the rules: one focuses on personalized cost-sharing information and another focuses on other pricing and information that insurers are required to post health plan transparency information on their websites. Personalized cost-sharing information The new rules require health plans to provide personalized estimates for enrollees upon request, so they can calculate their potential out-of-pocket expenses prior to receiving medical treatment. The following must be provided to a plan enrollee upon inquiry ahead of receiving care:
will have to pay out of pocket in relation to the rates it has negotiated for a specific procedure by an in-network provider. The plan or insurer must disclose the negotiated rate, expressed as a dollar amount, even if it is not the rate the plan or insurer uses to calculate cost-sharing liability. The plans must also disclose out-of-pocket liability for an individual as well as the negotiated rates for prescription drugs. The health insurer does not have to disclose drug discounts or rebates as part of the inquiry. Out-of-network allowed amount The insurer must disclose the maximum amount its plan will pay for an “item or service” from an out-of-network provider. Notice of prerequisites to coverage If the service the enrollee is inquiring about prior authorization, concurrent review or step-therapy, the insurer must include this information in the answer to the request. This part of the regulation will take effect in two phases: • •
1/1/2023: Insurers will be required to provide personalized cost-sharing information on 500 specific services. 1/1/2024: Insurers will be required to provide personalized cost-sharing information on all specific services.
Cost-sharing liability This covers how much the enrollee would have to pay out of pocket under their plan for deductibles, coinsurance and copays for a specific medical service. These estimates must be specific to the individual that’s inquiring and not a general estimate.
Publicly available cost-sharing information The new regulations also require health plans (not including grandfathered ones) and health insurers to post on their websites machine-readable files with detailed pricing information.
Accumulated out-of-pocket payments Enrollees can inquire to their health plans about how much they’ve paid out towards their deductibles and their plan’s outof-pocket maximums as of the date requested.
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In-network rates Upon request, the plan must divulge how much the enrollee
The website must include the following information, which has to be updated on a monthly basis: • •
Rates for all covered items and services that the plan has negotiated with its in-network providers. Historical payments the insurer has made to out-of-network providers, as well as the billed charges. The plan’s in-network negotiated rates and historical net prices for all covered prescription drugs at the pharmacy location level.
In 2022, there will be unpredictability as U.S. travelers begin making up for lost travel time, with a 52 percent increase since last year in travelers thinking they need to get away. Booking.com’s data shows predictions for 2022 travel, including how people will be reigniting travel in the upcoming year. Traveling as Self-Care More so than daily exercise or mindful meditation, getting away on vacation will become a major form of self-care in 2022, with over 76% of U.S. travelers affirming that travel helps their mental and emotional wellbeing more than other forms of rest and relaxation. After more than a year of ever-evolving travel restrictions, the important benefits that travel has on health and wellbeing are now being acknowledged, with approximately 66% saying they didn’t realize how important travel was to their wellbeing until it was no longer an option, and 82% saying that having a vacation planned has a positive impact on their emotional wellbeing. Setting an Out of Office Despite the flexibility to work remotely, more than half of U.S. travelers would rather spend less time on vacation if it meant they could completely switch off in 2022 versus spend more time in the destination while having to mix business and leisure. And with 50% of U.S. travelers claiming to have worked more hours using less vacation days during the pandemic, the hotel industry can expect to see more people setting their well deserved out of (home) office messages in 2022. Recapturing the First-Time Travel Feeling Daydreaming out the car window or getting lost in a maze of winding cobblestone streets to pick up the keys for a vacation apartment will be sheer bliss for just over 77% of U.S. travelers, who say travel is more enjoyable when the journey feels like part of the trip itself. Each ‘first’ of trips in 2022 will be a moment to savor, with a majority of travelers saying that simple pleasures such as feeling the sun on their skin or seeing a body of water of some kind instantly
improves their mood for the better. Putting Community First More than half of U.S. travelers agree it’s important that their trip is beneficial to the local community at their destination and 54% would appreciate an app or website that provides recommendations on destinations where an increase in tourism would have a positive impact on the local community. Furthermore, 64% want the money that they spend when traveling to go back to the local community, and 65% want to have authentic experiences that are representative of the local culture. Meeting New People For many, the pandemic meant spending an extended and intense period with closest friends and loved ones, but vacations in 2022 will be an opportunity to branch out and make some new connections. The hotel industry can expect to see travelers using their vacations as an opportunity to expand their usual social circles, with 65% of U.S. travelers looking forward to socializing while on vacation and 52% wanting to stay somewhere close to plenty of nightlife options. Saying Yes Nearly 72% of U.S. travelers will say yes to any vacation opportunity if budget allows. And 48% of that group has been saving their pennies by not taking any big trips since the pandemic started, so money is no object for the trips they will take in 2022. Technology will play a key role in supporting spontaneity with increased optionality to book on the go and the flexibility to adapt plans and follow where the adventure leads. Embracing the Unpredictable Uncertainty will continue to be a constant in travel in 2022, and while every new surprise and challenge that fate has in store cannot be predicted, travelers will embrace it. Having leaned on technology in a variety of ways to stay connected and inspired over the past year and a half, favorite apps will continue to help navigate the unknown on trips, with almost 65% of U.S. travelers agreeing that technology helps alleviate the anxiety around traveling.
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November 2021 • SCRLA.org
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