Comments on: Health Savings Plan Macromyopia http://punctuative.com/2007/06/24/health-savings-plan-macromyopia/ Wed, 07 Jan 2009 17:00:29 +0000 http://wordpress.org/?v=2.5.1 By: CDHC - Success or Failure « The Patient Advocate http://punctuative.com/2007/06/24/health-savings-plan-macromyopia/#comment-20350 CDHC - Success or Failure « The Patient Advocate Thu, 19 Jul 2007 20:27:10 +0000 http://punctuative.com/2007/06/24/health-savings-plan-macromyopia/#comment-20350 [...] It is probably too early to make any decisions here around Consumer Driven Healthcare (CDHC), but I enjoyed an entry on Matt Winn’s blog Punctuative about this (see entry).  A quote I especially like is: [...] [...] It is probably too early to make any decisions here around Consumer Driven Healthcare (CDHC), but I enjoyed an entry on Matt Winn’s blog Punctuative about this (see entry).  A quote I especially like is: [...]

]]> By: Greg Scandlen http://punctuative.com/2007/06/24/health-savings-plan-macromyopia/#comment-16609 Greg Scandlen Tue, 26 Jun 2007 13:04:09 +0000 http://punctuative.com/2007/06/24/health-savings-plan-macromyopia/#comment-16609 That's all fine, but the Kaiser Family Foundation report was simply wrong. They conducted a survey and concluded there were 2.5 million employees in Consumer Directed plans in 2005 and 2.6 million in 2006 (these may not be the exact numbers they reported, but close. I'm relying on memory here) They were probably about right in 2006, but way off in 2005. Plus, they were counting employees only, not dependents or people with individual coverage. AHIP has been tracking enrollment in HSA-qualified plans alone and counted 4.5 million in January, 2007 -- triple the enrollment just two years earlier. Add another 5 - 6 million in HRA plans, and you get some 10 million in account-based plans at the start of this year. This is the fatest adoption rate of any benefits innovation of my lifetime. Faster than IRAs, HMOs, or 401-Ks. Greg Scandlen That’s all fine, but the Kaiser Family Foundation report was simply wrong. They conducted a survey and concluded there were 2.5 million employees in Consumer Directed plans in 2005 and 2.6 million in 2006 (these may not be the exact numbers they reported, but close. I’m relying on memory here) They were probably about right in 2006, but way off in 2005. Plus, they were counting employees only, not dependents or people with individual coverage.

AHIP has been tracking enrollment in HSA-qualified plans alone and counted 4.5 million in January, 2007 — triple the enrollment just two years earlier. Add another 5 - 6 million in HRA plans, and you get some 10 million in account-based plans at the start of this year.

This is the fatest adoption rate of any benefits innovation of my lifetime. Faster than IRAs, HMOs, or 401-Ks.

Greg Scandlen

]]> By: Gregg http://punctuative.com/2007/06/24/health-savings-plan-macromyopia/#comment-16554 Gregg Mon, 25 Jun 2007 22:47:39 +0000 http://punctuative.com/2007/06/24/health-savings-plan-macromyopia/#comment-16554 High Deductible Health Plans with Health Savings Accounts (HDHPs/HSAs) are very confusing for the patient and the provider. We provide preventive care services and many HDHP have a significant preventive benefit (allowed by the IRS). HSA account holders do not understand this and believe any "doctor" visit will cost them significant out of pocket costs. In addition, most HDHPs allow the policyholder to pay the payors contracted rates for services. The problem with that is no one really knows this and training a front desk person to understand this process with the multitude of other tasks they are responsible for is daunting. I would love a product that would give us a direct view into the patients benefits down to the amount of wellness benefit remaining and cost of services. We have attempted to market to HDHP holders with very little success to explain the options available to them. I would love to see a great high tech solution to this. Gregg Smith CFO Lifesigns http://www.lifesignsmd.com High Deductible Health Plans with Health Savings Accounts (HDHPs/HSAs) are very confusing for the patient and the provider. We provide preventive care services and many HDHP have a significant preventive benefit (allowed by the IRS). HSA account holders do not understand this and believe any “doctor” visit will cost them significant out of pocket costs.

In addition, most HDHPs allow the policyholder to pay the payors contracted rates for services. The problem with that is no one really knows this and training a front desk person to understand this process with the multitude of other tasks they are responsible for is daunting. I would love a product that would give us a direct view into the patients benefits down to the amount of wellness benefit remaining and cost of services.

We have attempted to market to HDHP holders with very little success to explain the options available to them. I would love to see a great high tech solution to this.

Gregg Smith
CFO
Lifesigns
http://www.lifesignsmd.com

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