Getting In Control Of Health Care Costs

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A Presentation to the Exed Directors of Childrens Day Care Centers on Health Care Trends for Products and Pricing

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Getting In Control Of Health Care Costs

  1. 1. Getting in Control of Health Care Costs Chuck Kiskaden – Health Benefits Advisors Bill Bryant – CEO GroupHealthBid.com
  2. 2. Getting in Control of Health Care Costs <ul><li>Discussion Topics </li></ul><ul><ul><li>Strategies to Reduce your health care costs </li></ul></ul><ul><ul><li>Engaging Employees in Self Management of health care services and issues </li></ul></ul><ul><ul><li>Utilizing Carrier Resources </li></ul></ul><ul><ul><li>Educating Employees </li></ul></ul><ul><ul><li>Strategies and Products to Cut Premiums (the Good, the Bad, the not necessarily disclosed Ugly) </li></ul></ul>
  3. 3. <ul><li>Strategies to reduce your </li></ul><ul><li>healthcare costs </li></ul>Getting in Control of Health Care Costs
  4. 4. Why this topic? <ul><li>Hiring freeze </li></ul><ul><li>Layoffs </li></ul><ul><li>Pay freeze </li></ul><ul><li>Wage reductions </li></ul><ul><li>4 day work week </li></ul><ul><li>Plant closings </li></ul><ul><li>Economic meltdown </li></ul>
  5. 5. Today’s Major Dilemma <ul><ul><li>How do you squeeze every possible healthcare dollar to the bottom line while trying to be compassionate to your most valuable asset – your employees? </li></ul></ul>
  6. 6. Corporate Direction Required to Gain Control of Rising Health Care Costs <ul><li>Identify Health Care Cost Drivers and areas where employers can get control of their costs. </li></ul><ul><li>Maintain consistent objectives of extraordinary care for your employees while implementing cost containment strategies </li></ul><ul><li>Implement strategies for putting your company “In Control” </li></ul>
  7. 7. What are some of the Drivers for Health Care Cost Increases? <ul><ul><ul><li>Cost shifting </li></ul></ul></ul><ul><ul><ul><li>Increased utilization </li></ul></ul></ul><ul><ul><ul><li>Modest employee copayments </li></ul></ul></ul><ul><ul><ul><li>Patient demands </li></ul></ul></ul><ul><ul><ul><li>New coverage laws </li></ul></ul></ul><ul><ul><ul><li>New drugs </li></ul></ul></ul><ul><ul><ul><li>New technology </li></ul></ul></ul><ul><ul><ul><li>Health plan consolidation </li></ul></ul></ul>
  8. 8. Where Are New Cost Control Options Going to Come From? Unavoidable Costs Cost Sharing (5% to 10%) Coverage Elections (0% to 15%) Plan Selection (5% to 10%) Provider Selection (5% to 10%) Prescription Therapies (5% to 7.5%) Disease Management (5% to 10%) While no silver bullets will solve the health care crisis, aggressive strategies in two to four areas will have a dramatic impact.
  9. 9. Options for affecting increases in health care costs <ul><li>Plan Design </li></ul><ul><li>Wellness and Illness Management with EAP </li></ul><ul><li>Aggressive Utilization and Disease Management </li></ul><ul><li>Patient Channeling Using Networks </li></ul><ul><li>Targeted Disease Management </li></ul><ul><li>Consumer Directed Health Plans </li></ul><ul><li>Tracking Your Own Cost Trended Data </li></ul>
  10. 10. Getting in Control of Health Care Costs <ul><li>Engaging Employees in Self Management of health care services and issues </li></ul>
  11. 11. Getting in Control of Health Care Costs <ul><li>Utilizing Carrier Resources </li></ul>
  12. 12. Getting in Control of Health Care Costs <ul><li>Educating Employees </li></ul>
  13. 13. Getting in Control of Health Care Costs <ul><li>Strategies and Products to Cut Premiums (the Good, the Bad, the not necessarily disclosed Ugly) </li></ul>

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