Educated employees cut health costs – 3 top stories

Following trends in the group health insurance marketplace, these articles focus on three key ways to empower employees to make better decisions: consumer driven health plans, health savings accounts and corporate wellness programs. But do they work?

Individuals in CDHPs More Educated – From PlanSponsor

A report from the Employee Benefit Research Institute (EBRI) report examines the population enrolled in a CDHP and how it differs from the population with traditional health coverage and found CDHP enrollees were about twice as likely as individuals with traditional coverage to have a college or post-graduate education. In 2011, 24% of CDHP enrollees had a graduate degree, and 48% had a college degree, compared with 12% and 24%, respectively, of traditional plan enrollees.

IRS Announces Limitations for Annual HSA Contributions – From PlanSponsor

For 2013 the annual limitation on deductions under  §223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,250. The annual limitation on deductions under §223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $6,450.

Health Policy Brief: Workplace Wellness Programs – From Health Affairs

A new Health Policy Brief from Health Affairs and the Robert Wood Johnson Foundation examines trends in workplace wellness programs and the potential impact of provisions of the Affordable Care Act of 2010. About two-thirds of companies that offer health benefits to workers also provide a wellness program, such as health-risk assessments and screenings for high blood pressure and cholesterol, tobacco cessation, and weight management.

In 2014 a provision of the Affordable Care Act will expand employers’ ability to reward employees who meet health status goals by participating in wellness programs. In effect, that will mean employees who don’t achieve those goals may have to pay more than others for their employer-sponsored health coverage.

About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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