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Category: Healthcare Cost

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Sentara Healthcare Saves $3.4 Million & Improves Employee Health

A 3-year, incentive-based wellness program for the employees of Sentara Healthcare had a 6:1 return on investment, saved approximately $3.4 million in healthcare costs, and resulted in health improvement for nearly 80% of the employees that participated in the program. Major program components included: Completion of a voluntary personal health profile to identify risk factors Employees with low risk factors were awarded a $500 annual premium reduction Employees with... Read More
Posted by Cristie Travis at Wednesday, October 20, 2010

Glad You Have "Most Favored Nation" Pricing? You Should Read This

Most favored nation pricing means that you (or your health plan) have the best pricing a hospital or physician practice gives any plan.On the surface, this looks good; after all, all other payors will pay more than you. However, all may not be good at all. If the price you have as the floor is a high price, then you and everyone else pays more than you really should be paying, leading to higher overall health care costs in your market. This is just one of the issues being litigated in the... Read More
Posted by Cristie Travis at Tuesday, October 19, 2010

What is your premium increase for 2011?

Tell us what your premium (or premium equivalent if you are self-insured) increase is for 2011 .Approximately what is the amount of this increase that is due to changes required by health reform? Did you make some benefit design changes to reduce your premium increase? If so, what changes did you make and what do you think the impact of those changes were on your final premium increase?  Be sure to tell us if you are fully-insured or self-insured. Read More
Posted by Cristie Travis at Wednesday, October 13, 2010

New Over the Counter Rules Can Be Confusing

Effective January 1, 2011, employees must have a "prescription" to purchase over-the-counter medicines and drugs if they are to be categorized as "medical care" for purposes of the employer health plan and health savings accounts. Click here to read this concise summary from Alston & Bird and published in Employee Benefit News of the recently released IRS notice which provides clarifications around: What is a medication or drug? When is a medicine or drug considered prescribed?... Read More
Posted by Cristie Travis at Friday, October 1, 2010

Health Reform's Impact on Mini-Med Plans

Mini-med plans provide only the very basic health care coverage in order to keep premiums affordable and are usually offered to seasonal, part-time, temporary, blue-collar, and entry-level employees. Firms that offer mini-med plans include McDonald's, Waste Management, Dollar Tree, and TN's own, Gaylord Properties in Nashville. Health reform will significantly impact these plans in 2014 and it is possible that this option will disappear completely because mini-med plans do not generally... Read More
Posted by Cristie Travis at Thursday, September 16, 2010

Evidence Mounting: 2011 Will be a Messy Year for Both Employers & Employees

Survey results released over the past 2 weeks clearly indicate that employers of all sizes will be asking their employees to share in healthcare cost increases expected in 2011.For example: Large Employers: The National Business Group on Health 's survey of 72 large employers found employers expect an average trend increase of 8.9% in 2011. 63% will increase employee percentage contribution to premium cost, 46% will increase out-of-pocket max, and 44% will increase in-network... Read More
Posted by Cristie Travis at Tuesday, August 24, 2010

Will New Technology Transform How Healthcare is Delivered?

Check out how wireless technology is now being used to help manage patients from home & the other innovations being developed to improve care & increase efficiency. How do you plan to incorporate this type of technology into your employee health benefit plan?   Read More
Posted by Cristie Travis at Friday, August 20, 2010

Memphis Employers: Accountable Care Organizations Are Coming! Are You Ready?

Memphis employers, employees & their families will definitely be affected by the latest trend to hit the healthcare delivery system: Accountable Care Organizations (ACOs). The concept is not entirely new but is a new version of an old idea: paying systems of care to be accountable for the health and health care of a group of people. So why all the buzz? Well, the recently passed Health Reform law requires Medicare to begin to work with these types of systems in 2012. Hospitals,... Read More
Posted by Cristie Travis at Thursday, August 19, 2010

Preventable Medical Errors Add More Than $19.5 Billion to US Healthcare Costs

Yet another study reveals the direct connection between poor quality of care and increased cost. Milliman's recent study for the Society of Actuaries found that, in 2008, avoidable medical errors added $19.5 billion to the US healthcare bill. This cost is not the full cost, because it only captures those errors that can be identified based on an analysis of health care claims. Major findings include: $13,000 in additional cost were incurred per error 2,500 people died from these injuries... Read More
Posted by Cristie Travis at Monday, August 16, 2010

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