Employees Are Paying a Bigger Chunk of Health Insurance Costs
High deductible health plans are the new normal. Just over half of employees this year have a health insurance policy with a deductible of at least $1,000, according to a new survey. It's the continuation of a multiyear trend of companies passing more of the costs of employee health care back onto workers. Overall, health insurance premiums for a family covered by an employer health plan rose an average 3 percent this year. Historically, that's not much of an increase. But it still outpaces the rate of inflation, so it takes a larger chunk of worker income and employer profits.
Study Finds Trade-Offs for Plans with Big Deductibles
People in high-deductible health plans generate fewer medical bills overall, a new report finds, but they wind up paying more out-of-pocket than those in traditional health plans. Neither finding is surprising, study authors said, but they show employers and workers the consequences of selecting plans with big deductibles that are becoming more commonplace. For employers that sponsor health plans, the study shows the cost-control promise that comes with “consumer-driven health plans.”
EpiPen Costs Add to High-Deductible Insurance Woes
When Mylan raised the price of EpiPen, they attributed the increase to changes in the health "insurance landscape" as more and more people are enrolled in high-deductible health plans. If you use a high-deductible insurance plan, keeping your prices manageable means understanding your plan's benefit design up front. Your plan's Summary of Benefits will explain how cost sharing works for each covered benefit. Here are five more ways to save on your care and medications.
EpiPen Maker Lobbies to Shift High Costs to Others
Against a growing outcry over the surging price of EpiPens, a chorus of prominent voices has emerged with a smart-sounding solution: Add the EpiPen, the lifesaving allergy treatment, to a federal list of preventive medical services, a move that would eliminate the out-of-pocket costs of the product for millions of families — and mute the protests.
Some Companies Shrinking Options as "Cadillac" Tax Looms
Some of the nation’s largest companies are already taking steps to avoid ObamaCare’s "Cadillac tax," according to a new survey. About 12 percent of companies said they have taken steps to avoid being hit by the tax on high-priced health insurance plans. Employers say they have either shifted more costs to workers, dropped their pricier options or picked plans with fewer providers, according to the survey.