With Overall Member Satisfaction High, Outlook for Consumer-Directed Health Plans Signals Growth
According to research from the Blue Cross Blue Shield Association (BCBSA) individuals enrolled in high-deductible health plans (HDHPs) with a health savings account (HSA) component are more actively involved with their health care and more satisfied with various aspects of their coverage than individuals in traditional plans. The data was collected in an online survey of enrollees in consumer-directed and traditional health plans.
The consumer directed health plan (CDHP) enrollees represented all age groups and their overall self-reported health status did not differ from that of enrollees in traditional plans. However, members of the CDHP group were more likely to seek out information and use health-support services:
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Brand Name Drug Prices—And Price Increases—Make Case for Generic Drug Incentives
Health care and prescription drug plans use incentives for generic drugs as one cost management strategy. Two studies underscore the importance of efforts to encourage appropriate use of generics. These studies indicate that, in addition to being pricier than generics, brand name drug costs are rising at a faster rate than the cost of generics.
A study from the General Accounting Office examined price trends for 96 frequently used drugs over the period January 2000 through December 2004. The average usual and customary (U&C, or retail) price of the 50 brand name drugs in the group increased three times as much as the average U&C price for the 46 generics in the group.
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Supplemental Coverage Helps Employers and Employees Make the Most of Life Insurance Benefits
While most companies provide some basic level of life insurance coverage to employees, it’s almost certain not to be enough to adequately protect an employee’s family in the event of the employee’s death. Most employer plans cover employees at the rate of one-times annual salary. Even for employees with a high annual salary, the benefits wouldn’t take care of their beneficiaries’ needs for very long.
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Integrating Management of Disability Programs Fosters Return to Work, Cost Savings
Although the rising cost of health care has grabbed headlines, the cost of employee absences has garnered less attention. Yet, the costs to employers when employees miss work—whether caused by sick days, disability leave, workers’ compensation, or other approved leave—are substantial: temporary workers, overtime, lost productivity, and dissatisfied customers. Furthermore, employee absences stemming from illness or injury may be associated with substantial medical costs. UnumProvident, a provider of income protection insurance, estimates that the 10% of the work force filing occupational or non-occupational disability claims accounts for 55% of a company’s medical costs.
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