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The Health Care Cost Epidemic

Article Abstract:

Multiple sectors of the health community are responsible for rising health care costs. Consumers, ninety-five per cent of whom have their bills paid by a third party, have no incentive to cut costs. The government establishes its own rates, usually below actual costs, thus forcing the medical industry to shift costs on to a different sector. Hospitals are overbuilt and look for ways to fill beds. Fear of litigation has caused physicians to request extensive treatment. The fair payment system offers a solution to the rising cost cycle. It dictates that, on a state to state basis, all hospitals are paid the same for the same procedure. Several states have passed fair payment legislation.

Health aspects, Cost (Economics), Costs (Economics)

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Insurers Fight for Cost Containment

Article Abstract:

Insurers are investigating a variety of methods to help contain medical costs. Insurers are structuring their policies to offer incentives to insureds for cost saving activity. Pre-admission testing, second surgical opinions and use of alternative plans like health maintenance organizations also contain costs. Employee education of the need and ways to contain costs is effective. Wellness programs are a part of this education. Evaluation of utilization data identifies cost intensive areas.

Evaluation, Insurance industry

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Can insurers survive the 401(k) shakeout?

Article Abstract:

Insurance companies should be prepared for the coming changes in the existing structure of the 401(k) market. Customer dissatisfaction is growing as customers become more curious and informed about investment possibilities, and are demanding greater choice of mutual funds. The costs for maintaining 401(k) plans with more mutual fund choices will increase. In addition, customers are becoming more sensitive to fund charges which damage their equity.

Finance, Salary reduction savings plans, 401K plans

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