Whether you refer to it as Reference Based Pricing, Medicare Reference, Cost Plus or something else, the important thing is to understand what it is and why it’s being used to lower health plan costs. Health plans with reference based pricing provide high quality coverage at a lower cost by using Medicare fee schedules as [...]
This article was published on March 18, 2020 on BenefitNews.com, written by Amanda Schiavo. Photo Source: BenefitsNews.com. The coronavirus is causing concern around the world, impacting the health and safety of millions and upending the global economy. As stock prices plunge and a possible recession looms, employers and self-insured organizations may react by cutting excess [...]
This article was published on August 30, 2019 on the HR Daily Advisor written by Eileen Clark, Senior Vice President of Human Resources, ELAP Services. Large employers currently pay about $500 more in healthcare costs per employee than they did just a year ago—money every company would love to have back. With healthcare costs increasing yearly, many [...]
Researchers hope the study will give private payors a better grasp of what health care costs are, and allow them to compare prices within a state and across states. (Photo: Shutterstock) This article was published on May 13, 2019 on BenefitsPro written by Scott Wooldridge. Prices range from 150 percent of Medicare prices [...]
While plenty of folks talk about value based, or reference based, pricing as though it’s a fad that has come and gone, we’re finding more interest from employers all the time. This may be because many like to brand it as another form of disruption, but regardless of how you brand it, value based pricing [...]
This article was published on July 17, 2018 on Employee Benefit News, written by John Kern. Photo Source: Employee Benefit News. In my 25 years in the insurance business I’ve seen many changes. But there’s always been one constant: Healthcare and pharmacy costs continue to accelerate and no regulatory action has been able to slow [...]
This article was published on June 21, 2018 on BenefitsPro, written by Greg Land. Photo Source: BenefitsPro. A woman was sued by a Colorado hospital seeking more than three times what it had already been paid for her surgery. A Colorado jury declared a hospital’s billing unreasonable, turning aside its lawsuit demanding almost $230,000 from [...]
Armed with the facts, brokers can offer expert advice about this cost-saving option. This article was published on May 9, 2018 on BenefitsPro, written by Steve Kelly, co-founder and CEO of ELAP Services. Photo Credit: BenefitsPro. The most successful business owners and employers surround themselves with advisers who are experts in their field and can guide [...]
This article was published May 10, 2018 on BenefitsPro.com, written by Alex Tolbert. Photo Source: BenefitsPro Back in 2015, the big topic in health care was insurance company consolidation. This was the year Anthem announced plans to acquire Cigna, and Aetna put out a bid for Humana. Mergers across four of the country’s [...]
As a Third Party Administrator, employers and plan members count on us to make their health benefits work. While that sounds easy enough, it can be anything but easy when ordinary working families are forced to face exorbitant hospital bills. One couple recently found themselves confronted with a very difficult situation when their son needed [...]
