Premiums increase at slowest pace in eight years
Health insurance premiums have increased at the slowest pace in eight years, according to a new report published by the Kaiser Family Foundation and Health Research and Educational Trust. The Employer Health Benefits 2007 annual survey found that premiums increased by 6.1 percent in 2007, making this the fourth consecutive year premium increases have declined.
Survey: CDH plans continue to grow in popularity
More individuals and employers are taking advantage of money-saving options as healthcare costs rise, according to a survey conducted by Aon Consulting Worldwide, the global human capital consulting organization of Aon Corporation and the International Society of Certified Employee Benefit Specialists. The nationwide study of 470 employers found that 37 percent of employers offer CDH plans to employees, up from 28 percent in 2006 and 22 percent in 2005. In addition, 60 percent of employers have more than 10 percent of their employees participating in a CDH plan, up from 53 percent in 2006. The survey found that 83 percent of employers offer a CDH plan in addition to other healthcare plans, with the remaining 17 percent offering CDH plans in lieu of more traditional health plans.
New service aimed at claim fraud, waste and abuse
Rochester, N.Y.-based Excellus BlueCross BlueShield has contracted to use the new Risk Identification Analysis Service from IBM to help combat healthcare insurance claim fraud, waste and abuse. Excellus, with 2 million covered lives, initially will use the new service to review pharmacy-related claims to uncover complex schemes.
Highmark offers new health plan comparison tool
Highmark Blue Cross Blue Shield has introduced a new tool to help consumers compare health plan options. The Plan Cost Advisor is available to consumers on Highmark member Web sites. Consumers enter basic information about family, health conditions and health plan options. Plan Cost Advisor analyzes the information that is entered by the consumer and projects the next year’s medical spending for each health plan option with a breakdown for copays, deductibles and coinsurance. The tool then shows consumers estimated out-of-pocket spending, taking into account any payroll contributions as well as any benefit cost-sharing.