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October 08, 2005
A Health Savings Account study on the Future of Healthcare
United Benefit Advisors has published a study of current employer health care cost containment strategies. The study describes their attitudes and their predictions of the future of health care benefits, and how Health Savings Accounts (HSA) could play a major role.
The study reveals two main changes that employers are predicting in health care benefits over the next five years:
1. All hospitals, physicians, and insurers will be required to publicly disclose all prices. This of course will be great for the consumer, as it will finally allow everyone to compare prices and shop for the best value.
2. Employers will begin adopting a 'total compensation' approach in which employees will decide how much of their pay goes to cover health benefits, retirement, or other benefits. This too will be great news for employees. It will allow those who are covered by a spouse's insurance plan to forgo the benefits and increase their take-home pay. Likewise for those who may want to purchase their own lower-cost high-deductible Health Savings Account plan.
These predictions are signs of positive change to the healthcare industry, though the hospitals may not agree...
Posted by Wiley Long at October 8, 2005 05:02 PM