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NEWS RELEASEA recently released study by the Kaiser Family Foundation indicates that employers and their employees will again face another double-digit increase in Health Insurance premiums. SALT LAKE CITY, UTAH/MARCH 2006 – F. Darrell Lindsey, a SLC-UT based U.S. Licensed Insurance Producer and Broker with 46 years experience, in the Life & Health and Property & Casualty industries, presented a summary to his insured’s, and to insured’s of his Industry Associations clients, that indicated: There are a number of factors that influence the cost of health insurance, most cannot be controlled by the employer (except in the employers choice of health coverage) but can be significantly influenced by the consumer and user of the health care benefits. Employer’s have looked at various health insurance benefit design alter-natives, including considering Provider Network plans, variations of PPO’s/HMO’s/POS (Point of Service) designed programs, along with analyzing the funding arrangements, claims-paying capabilities, and operations of various insurance companies, all with little effect. One of the identifying factors is; the increasing number of mandated benefits under state laws that lead to higher insurance premiums for the small business owner. Mandated benefits fall disproportionably on the smaller employers that cannot “self fund” their benefit programs and use ERISA exemptions to avoid state-mandated coverage(s). ALONG COMES the Federal Government supporting “Consumer Driven” health care and passing into law Health Savings Accounts (HSA’s). Essentially, HSA’s require a deductible health insurance plan to be in force to obtain the TAX FREE benefits of a Health Savings Account to pay for uninsured and unpaid health care and dental expenses. The “primary” concept has been all along that if the consumer of health care is responsible for spending his own money, the user of the services will be more selective in their use of the health care system, since they have a stake in controlling the costs. Also a deductible health care program will help get the psychology of health insurance out of a REIMBURSEMENT mentality and instead operate more as the “traditional model” of insurance was intended, “to only pay for catastrophe expenses”. If anyone is interested in learning more about Deductible Group Health Insurance Plans, with or without a Health Saving Account, please contact F. Darrell Lindsey of the Combined Industry Purchasing Group Association as noted above. END F. Darrell Lindsey | ||
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