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Category: Money

Changes for Health Insurance on 2011

Written on September 07, 2010 by Japhet Writ

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Reforms on health care is already on the road, and businesses are following the lead. What differences can you expect to see in your health insurance for 2011?

Because of the reform, employers will be making some changes to their plans for 2011. These proprietors will continue to boost premiums and co-payments, while beefing up programs that will encourage their employees to lower their medical expenses. Know the difference and what to expect when your boss offered you options for the open enrollment season this fall.

1. Increased Premium and Co-Pays: Large establishments have been boosting up laborers’ share of the premiums and co-payments over the past few years. However, Helen Darling, president of the National Business Group on Health says that employers realized that increasing employee cost is not the sole solution. If co-pays increased too-much, their working staff may not seek care they need which can lead to greater medical expenses in the future. Therefore, worker’s big cheese are targeting to increase at areas that will encourage their constituents to be more careful about costs.

2. More High-Deductible Plan and Health Savings Account: More firms are planning to offer a consumer-directed plan for next year, encouraging their workers to become better health-care shoppers.

3. Better and Wellness Program Deals: Many businesses are intent in reducing co-pays for primary and preventive care, by experimenting on various forms of wellness benefits. In fact, most now gives people bonuses for participating in rather than penalizing them if they do otherwise.

4. Extra Charges for Branded Drugs: For the past few years, business owners have been charging varying levels of co-pays for different types of drugs. Now, seventy-three percent of the employers requires prior authorization before letting their workers use certain drugs. And to encourage their people to get drugs from a cheaper source, employers are also changing their co-pay.

As a general solution, it is best to factor your potential out-of-pocket costs, and consider adding some of your money in HSA if you’re eligible. Get a list of preventive-care services for free, and consider where you buy your medications. Evaluate the new rules carefully when deciding what type of health care is best to use throughout the year.

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