Editor’s Picks October 20, 2009
Towers Perrin Health Care Cost Survey Shows Employer-Sponsored Medical Benefit Costs to Rise 7% to Over $10,000 for the First Time.
Employer adoption of Account Based Health Plans has risen significantly over the last five years, from 20% to 60% of companies, as employers recognize and embrace the value of these plans in controlling their health care costs and reducing the employee affordability gap. (Read More)
Consumer-driven Health Plans are the Latest Trend in Coverage.
indystar.com, October 18, 2009
“This puts employees in a consumer position where they can start to make choices, like when they go to buy a TV,” said Bridget Scott, consultant for communication and wellness at Benefit Associates, which helps companies find the best health and benefit coverage. “They go to Best Buy, hh gregg. Then when they need health service they say, ‘I’m not going to go with the first choice. I’m going to shop around and get quotes.’ ” (Read More)
Sign up for Health Savings Accounts, Flexible Ppending Accounts for Savings.
latimes.com,
Having a high-deductible insurance plan also allows you to start a health savings account, which can be used to pay medical expenses not covered by your insurance plan, either at all or until the deductible kicks in. (Read More)
Making Sense of High-Deductible Health Plans.
nytimes.com, October 16,
The idea behind the “consumer directed” part goes like this: If you and I are spending more of our own money on health care, then we are likely to ask doctors and hospitals many more questions upfront and be more careful about which tests and procedures we receive. After all, until we exhaust that high annual deductible, it’s our money on the line. (Read More)
Health Insurance Cost Tipping Point Inches Closer.
healthplans.hcpro.com, Octo
The report did find that more large businesses are placing more control (and costs) onto employees through account-based health plans, also known as consumer-directed health plans. Large employers have found account-based plans cost 13% less than the traditional health plan… (Read More)
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