| | Benefits & Administration | | Five Components for Managing Health Care Costs | | Joseph Berardo, CEO of MagnaCare, a
Manhattan-based health plan administrator and provider for self-insured health
plans, recommends five key components to positively impact the total cost of
care. Self-insured health plans offer flexibility in plan design and the
reduction of premium taxes that exist with fully insured benefits. “Right out
of the gate, employers can save 4% to 6% without premium taxes,” Berardo tells
PLANSPONSOR.Read more > | | Ineligible Dependents Drive Up Health Benefits Costs | | Up to 8% of the dependents enrolled in an
employer’s medical plan are actually ineligible to receive benefits according
to their plan’s own criteria, according to a research paper from Colonial Life
& Accident Insurance Company, in partnership with the Government Finance
Officers Association (GFOA). The study, “Controlling health-care costs with
dependent eligibility audits,” cites research from the Kaiser Family Foundation
and Mercer, which says employers pay an average of $3,500 annually to provide
coverage for a single dependent.Read more > |
|
| |
