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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

Large Employers Rate Flexibility Over Advantages of "Grandfather" Status

A Hewitt Associates survey of 466 large employers released on August 10, 2010 indicates most expect to lose their Grandfather plan status in the next two years, and for sure by 2014. Reasons sited for loss include changes they plan to make regarding: Plan design (72%) Employee premium subsidy (39%) Insurance carriers (16%) Union contracts (15%) These employers indicate that overall health benefit strategy is more important than... Read More
Posted by Cristie Travis at Tuesday, August 17, 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

Health Care Reform Costs to Insurers May Exceed Forecasts

Compliance with the new medical loss ratios by health plans could cost health insurance companies much more than originally predicted according to a recent study conducted by Weiss Ratings. Margins for health insurance companies already complying with medical loss ratio and other health reform requirements in 2009 had margins (on average) of only 0.7% while companies not yet complying had margins (on average) of 6.3%. Complying companies actually had negative margins from premiums with... Read More
Posted by Cristie Travis at Friday, August 13, 2010

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