Navigation Links
California Insurers are Behind the Curve with Consumer-Driven Health Plans
Date:10/29/2008

Insurers Still Seeking Right Price for Consumer-Driven Products, According

to New Report from HealthLeaders-InterStudy

NASHVILLE, Tenn., Oct. 29 /PRNewswire/ -- HealthLeaders-InterStudy, a leading provider of managed care market intelligence, reports that despite its trend-setter reputation, California is behind the curve in the consumer-driven health plan market, resulting in some sticker shock as insurers search for the right price for their products. According to the latest California Health Plan Analysis, fewer than 4 percent of California employees are covered by tax-advantaged, high-deductible products, also known as consumer-driven health plan products, which are increasing in popularity nationwide. According to one 2008 study, consumer-driven products represent about 5.2 percent of employer-sponsored health plans in California, compared to nearly 13 percent nationally.

"The strength of HMOs in California is one reason that uptake of consumer-driven plans has been slow," said Chris Lewis, analyst with HealthLeaders-InterStudy. "Residents are familiar with HMOs and the predictable fees and copays associated with them. However, as prices of HMOs are increasing and catching up to PPO premiums, employers are looking for more choices and are becoming more educated about the health plan options out there."

Insurers are meeting market demand by providing high-deductible plans to employers, but pricing of these consumer-driven plans has been a challenge. For example, Anthem Blue Cross hiked fees for one of its Lumenos plans by more than 32 percent in May 2008. According to Anthem Blue Cross officials, the price increase was necessary to respond to an expensive, and unanticipated, number of claims.

"Carriers had thought that with a high-deductible plan, consumer medical spending would be more moderate than it turned out to be," noted Lewis. "As a result, some employers responded to high renewal rates by changing carriers, while others reverted back to the more traditional plan options. In response, insurers in California are striving to reach the delicate balance on price where they are attracting customers to their consumer-driven products, without having to ask for a huge increase a year later to cover an unanticipated spike in claims."

Why Pharmaceutical Companies Need Health Plan Analysis

Health Plan Analysis identifies key health plan trends, which can be used by pharmaceutical companies to create comprehensive strategic plans and sales strategies at state and local levels. Updated quarterly, Health Plan Analysis provides a detailed look at plan design and financials, as well as information about mergers, legislation and other influencers driving healthcare in a particular region.

About HealthLeaders-InterStudy

HealthLeaders-InterStudy, a Decision Resources, Inc. company, is the authoritative source for managed care data, analysis and news. For more information, please visit http://www.HL-ISY.com.

About Decision Resources, Inc.

Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at http://www.DecisionResourcesInc.com.

All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.


'/>"/>
SOURCE HealthLeaders-InterStudy
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. California Brain Injury Association and Scarlett Law Group Conduct Medical/Legal Conference on Traumatic Brain Injury November 21 - 23rd, 2008
2. Blue Shield of California Opens New Lodi Campus
3. Celebrate Halloween Safely This Year With Tips From the California Poison Control System
4. Free Cab Rides Home for Halloween in Alameda, Oakland, Berkeley and San Francisco, California
5. Fourth Hand Transplant Recipient Heads Home to California
6. Statement From Carroll Schroeder, Executive Director for the California Alliance of Child and Family Services, on Californias 2008-2009 Final Budget:
7. Blue Shield of California and NorthBay Healthcare Reach an Agreement
8. Target America Exhibit Opens at the California Science Center October 2, 2008
9. California Dental Association Foundation Launches New Dental Risk Assessment Campaign
10. Council on Education in Management Announces Insurance Commissioner Steve Poizner Will Present Keynote Address at the 6th Annual California Workers' Comp Forum
11. ACC Applauds Californias Decision to Not Ban Food-Contact Products Containing Bisphenol A
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... ... December 02, 2016 , ... Clarify Health Solutions, ... raised $6.0 million in an initial round of funding. The round was led ... their caregivers can receive far better care through the application of the best ...
(Date:12/2/2016)... ... December 02, 2016 , ... Date aired: November ... Type 2 Diabetes: The Owner’s Manual, http://realtimepressrelease.com/press-releases-tagged-with/daryl-wein , Sharon Kleyne, ... Water, Global Climate Change and Your Health radio program syndicated on Voice of ...
(Date:11/30/2016)... ... November 30, 2016 , ... ... now offer a comprehensive in-house dental plan for all patients. Understanding that budget ... plan that gives patients a number of perks, including discounts on many valuable ...
(Date:11/30/2016)... , ... November 30, 2016 , ... ... mental health treatment has announced the opening of a new eating disorder treatment ... and intensive outpatient treatment for adults and adolescents, both males and females ages ...
(Date:11/30/2016)... Warrington, U.K. (PRWEB) , ... November 30, 2016 ... ... to address the tech functions and stylish design wanted by today’s consumers at ... , Cronovo Co-Founder Darin Philip says the new watch is “a game changer” ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... , Dec 1, 2016 Research ... "Drug Delivery in Cancer - Technologies, Markets and Companies" ... , ... challenge in management of cancer The market value of ... Cancer market estimates from 2015-2025 are given according to organs involved ...
(Date:12/2/2016)... 2016 Around the corners of world, cancer ... habitable land present over earth. Cancer has become one ... a life time this is because of the increasing ... Given the steady increase in global cancer incidence with ... healthcare costs of treatment, there is increasing interest in ...
(Date:12/2/2016)... Dec. 2, 2016 Allergan plc (NYSE: ... information on its previously announced Accelerated Share Repurchase (ASR) Program. ... ... As previously announced, the Company entered into a ... the Company will repurchase $10 billion of its ordinary shares. ...
Breaking Medicine Technology: