GLG News by Life & Health Insurance Experts
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Daniel BucklePrincipalEmployee Benefit Resources of South Texas
Opportunities for Health Insurers in Middle Market
May 18, 2006
Health Care Education Lacking at Work;Study | www.businessinsurance.com
This survey of middle market employers reveals much for investors following public health insurers wondering which of the big 4 will actually grow membership. Consider that 72 % of the employers surveyed have fewer than 200 employees and another 22% have less than 1000 employees. 82% of these employers either reduced benefits or increased employee contributions for Healthcare this past year.
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Daniel BucklePrincipalEmployee Benefit Resources of South Texas
Until They Build It, Consumers Will Not Come
May 5, 2006
Providers Nor ready For Consumer Driven Health Plans | www.aishealth.com
Consumer Driven Health Plans (CDHP's) are causing hospitals and physicians to modify their business practices. Competing on cost and quality will present new challenges to doctors and hospitals unaccustomed to competing on these terms and change how they require payment.
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Daniel BucklePrincipalEmployee Benefit Resources of South Texas
Incentives to Control Medical Costs
May 5, 2006
Employers focus on Chronic Ailments | www.boston.com
Employers are increasingly reducing or eliminating drug co-payments for employees and dependents with chronic conditions while at the same time subsidizing screening for serious conditions so they can be treated earlier at a lower cost. 38% of employers now offer or plan to offer such targeted incentives in the future up from 20% in 2001. Many employers have cut their medical inflation by 40% or more by targeting incentives because the approach works and results can be documented.
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Bilyana SavicPresidentInsurance Insights
Likelihood of repercussions for life insururers unknown
May 1, 2006
Bird-flu pandemic could hurt life insurers | www.insurancenewsnet.com
If the bird-flu virus mutates and begins spreading among humans, the concern is that life insurers would not be prepared for the volume of claims anticipated.
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Bilyana SavicPresidentInsurance Insights
Rumblings of Healthcare Reform
April 28, 2006
FTCR: Insurance Cancellation Scandal Widens: WellPoint, Blue Cross & Blue Shield Sued For Illegal Denials of Health Coverage | www.insurancenewsnet.com
Charges of illegal claims denial and illegal coverage cancellations are surfacing in California. The target is currently Wellpoint even though the standards and practices involved are common industry wide and acccepted as appropriate procedures. The twenty three lawsuits filed to date suggest a potential to trigger a multi-state investigation into these practices.
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Bilyana SavicPresidentInsurance Insights
HSAs are a shift of cost from employer to employee, not an increase in quality
April 28, 2006
As HSAs Grow, Leaders Debate Accounts' Effectiveness | www.insurancenewsnet.com
Since March of 2005, the number of consumers covered by Health Savings Accounts increased from 1 million to 3 million. Large firms have seen the largest increase. Businesses with 20,000+ employees increased from 12% with Consumer Driven Health Plans to 22% between 2004 and 2005. However, adjustments need to be made to the HSA approach to improve accessability and financial benefits for consumers.
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Daniel BucklePrincipalEmployee Benefit Resources of South Texas
Linking Health and Productivity
April 24, 2006
Sleep deprivation Brings Lower productivity and Higher Health Costs | www.shrm.org
An estimated 50,000,000 to 70,000,000 Americans suffer from sleep disorders that cost US businesses billions in healthcare, lost productivity and safety. A society operating 24/7/365 is creating sleep deprivation that is manifesting itself in a myriad of health related consequences including an increased risk of hypertension, diabetes, obesity, depression, heart attack and strokes according to a well researched study by the National Academy of Sciences.
Manufacturing, Healthcare and transportation businesses are especially susceptible as are other which never close. Further, even businesses without shift workers are still likely to see sleep related disorders as a product of obesity. Businesses which do not manage to engage their workforce and encourage behavioral and lifestyle changes will be at a competitive disadvantage. Health Care Insurers with a track record of successful disease management engagement will benefit. -
Daniel BucklePrincipalEmployee Benefit Resources of South Texas
Obesity Research Highlights Consumer Driven Challenges
April 21, 2006
Research Documents Weight Problems | www.benefitnews.com
Medical costs associated with obesity cost U.S. businesses about $8,720 per patient per year. Obesity today ranks as the number one public health issue. Obese employees do not select consumer driven healthplans given alternative options which means weight management efforts and incentives by employers will be necessary at most large employers which offer multiple health plan choices to their employees.
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Daniel BucklePrincipalEmployee Benefit Resources of South Texas
Employers Prepare To Offer Consumer Driven Healthplans
April 21, 2006
Many Offer Basic Wellness, Few Track Results | www.benefitnews.com
Effective wellness initiatives and an engaged workforce are essential elements at reducing healthcare costs yet few employers today are bothering to measure the effectiveness of their wellness programs. The wellness efforts of three large employers are highlighted in this article and provide useful insights into the essential preparations a larger employer must make to actually achieve tangible cost reductions via consumer driven healthcare alternatives. The different incentives offered by 62% of the employers surveyed by the International Foundation of Employee Benefit Plans who actually offer wellness programs show how employers are seeking to engage their workforce and change behavior. Investors in the Health care sector need to consider that it will take years before a significant percentage of the population is enrolled in consumer driven healthplans as many Americans today are not prepared to be educated healthcare consumers.
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Daniel BucklePrincipalEmployee Benefit Resources of South Texas
Consumer Driven Healthcare Trends
April 20, 2006
Attention Healthcare Shoppers | www.healthleadersmedia.com
This article provides insight into the consumer driven healthcare marketplace as it strives to achieve critical mass. Currently only 5% of the commercial healthcare market is enrolled in consumer driven plans and it remains to be seen whether the consumer driven market will continue to grow.
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