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Consumer –Driven Health Plans

Consumer –Driven Health Plans. Health Care Benefits Jenna Ruthledge , Laura Martin, Becky Ferdman, Catherine Nervig and Cj Hobbs. Consumer-Driven Health (CDH).

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Consumer –Driven Health Plans

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  1. Consumer –Driven Health Plans Health Care Benefits Jenna Ruthledge, Laura Martin, Becky Ferdman, Catherine Nervig and Cj Hobbs

  2. Consumer-Driven Health (CDH) • A consumer-Driven Health Plan-is a term used a variety of components for providing health insurance or funding healthcare costs, while encouraging participants to be actively involved in making their healthcare decisions, choosing their physicians, choosing service providers and managing their own fitness and wellness. • CDH offer a mechanism to change employee or participant healthcare purchasing behaviors. • CDH may also result in reduced healthcare cost and improved quality of healthcare.

  3. Consumer-Driven Health Care Benefits Conflicts Less wealthy or educated may have the inability to make informed appropriate healthcare choices. Educating the participants on healthcare options. Generally more out of pocket expenses for the participant. • Viewed as saving plans. • Greater price transparency in purchasing healthcare, allowing participants to make more informed decisions. • Control on out of pocket costs • Less likely people will abuse the healthcare system.

  4. Comparison These are just a few of the differences

  5. Benefits to the Employer (HRA) • All employer contributions to the plan are 100% tax deductible to the employer, and tax free to the employee. • Studies show that only 20-50% of employees actually use their healthcare coverage, meaning employers often pay health insurance premiums for employees who are not utilizing the coverage. • HRA plans may also cover retired employees.

  6. Benefits to the employer (HSA) • HSA-Compatible Health Plans Cost Less. • HSAs can create a healthier, more healthcare savvy workplace population. • You can expect lower administrative overhead relative to other health spending accounts. • HSAs provide an additional opportunity for employers to help their employees save for retirement.

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