1 / 4

Decoding Defined Contribution Health Plans: A Glimpse into the Future

Explore the potential future and current impact of Defined Contribution Health Plans in the realm of rising costs, legislative activity, and technological advancements. Learn about the shift in employer-employee dynamics and the challenges and advantages of this innovative approach to health coverage.

umika
Download Presentation

Decoding Defined Contribution Health Plans: A Glimpse into the Future

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Defined Contribution Health Plans: Future or Fad? By Paul E Sullivan, Jr. Presented by Daniel Lewis

  2. Current Health Care • Group health coverage plans • Rising Costs • Renewal package costs up 8-10% • Prescriptions up 20% • Horrible Service • Denied coverage • Legislative Activity • Employer Fatigue • Design and implementation timely, costly and frustrating • Technology • More informative and efficient when enrolling

  3. Defined Contribution Plan • Employers set their contribution of health coverage at a certain dollar figure and provide employees with a vehicle to find their own insurance. ( usually a website) • Employers give tax favorable vouchers to employees to buy health insurance. • Employees go to the market place and choose their own health care. • Employees choose quality, cost, and access. • Employees in charge of grievances, cost increases, and appeals.

  4. Issues • How will this affect attraction and retention of employees? • Will it be Less costly to administer than group coverage? • Is the health care information secure on the internet? • How will this affect the relationship with employees since the burden is shifted to them?

More Related