Horrible Status Quo Benefits Compared to Health Rosetta
Dave Chase, Health Rosetta-discovering archaeologist
Healthcare Transformation Author & Speaker | Chief Archaeologist at Health Rosetta
Let's face it, your health benefits stink. Given the massive amount of money spent by employers on health benefits, it's brutal to look at just how bad the status quo is for health benefits. Great people are operating inside of a horribly designed system as this NY Times doctor/columnist/patient painfully describes. Far more resources have been directed towards administrative overhead designed to optimize revenues than to optimize the Quadruple Aim. Fortunately, smart employers such as a small manufacturer and a small hotel chain have proven how you can spend 30-50% less per capita AND provide great benefits.
The fact is that most payroll increases for companies have gone to pay for healthcare's hyperinflation, rather than wages. Forward-looking organizations recognize that we can expect much more from this large of investment. For those who haven't read some of my prior pieces, a bit of background may help. Those who have read those pieces may want to scroll down to the comparison of status quo versus the Health Rosetta.
As you get Open Enrollment information from your employer and consider that they are likely paying $10,000 or more on your behalf, reconsider whether you are okay with the status quo. This is all the more important as most employers are going to high deductible plans and thus what comes out of your paycheck covers less and less. This make healthcare and health plans one of the few industries where the value proposition gets worse every year.
Continue reading the comparison between status quo and Health Rosetta here...
Diagnostic Radiologist at Matrix Radiology Associates
8 年Excellent. Thanks, Dave!
Senior Underwriter at Self employed
9 年Joe, I am sure those numbers do not include the reinsurance adjustment. The first year experience was supposed to be bad. They have no offsets, no supplemental coverage's like Dental, Vision. Disability. The hope is that those 200 claimants are the worst they will get. From what I saw they raise rates 20% last year, but under 10% for the coming year. Do you know what they did?
Service Delivery Management, Command Center Security Management, People Management, Project Reporting, Knowledge and SLA Management
9 年In India and Other developing countries its even worse... Imagine the kind of revenue they generate... Mostly by miss selling and Cheating
Retired after 38 years on Mainframe and Client/Server
9 年I worked for the NYS 'Insurer of last resort' not-for-profit Health insurance provider into the mid 1990's. 'Insurer of last resort' means in exchange for certain NYS tax breaks , they could not deny anyone coverage. Most private insurers can and still do. Cancer survivors were often denied coverage because their cancer is considered a 'pre-existing' condition even it it is in remission. Health insurance providers (just like auto) stay in business by having a policyholder pool with different levels of risk. Policy holders used to be able to control he HC costs by choosing cheaper plans that may require more out-of-pocket for a specific illness. They used Medicaid as a fallback for a catastrophic illness. The ACA no longer permits that 'strategy'.
Senior Underwriter at Self employed
9 年Joe your math is bad , that's 2000 out of 40,000 not 200. The easy solution is too punish everyone as opposed to fixing the problem.. Until we solve that mentality we won't solve the problem. Reference based pricing is one solution, but we are guilty of oversupply on too many items This raises overhead, and does not increase competition.