With all the news about soaring health care costs, one may be surprised to learn that while insurance premiums and prices for common procedures for insured people continue to increase, cash or negotiated self-pay prices for many procedures vary little from year to year. One source contends employers can use strategies already available to lower their health care costs. New regulations about health reimbursement arrangements (HRAs), as well as the prior set up of qualified small employer health reimbursement arrangements (QSEHRAs), can help meet the need for low-cost health benefit solutions for small employers. This and more in this edition of PLANSPONSOR Weekend.
Employers can lower their health benefits spend, as well as costs for employees, by moving away from preferred provider organizations (PPOs), utilizing value-based care and using benefits consultants instead of traditional brokers.
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The IRS has issued guidance allowing high-deductible health plans (HDHPs) with health savings accounts (HSAs) to cover specified medications and services used to treat chronic diseases prior to meeting the plan deductible.
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An analysis found monitoring DC plan investment menus and making necessary changes results in better performance, and researchers have followed up with four pitfalls to avoid when making investment changes.