Managing health and welfare plans: instead of letting them manage you

Article Abstract:

Benefit managers face new challenges as corporate mergers and legislation expanding benefit availability and increasing access to new markets continue to reshape the health care provider industry. An added dimension to these challenges is the increased knowledge of participants about their benefit plans. Given such an increasingly complex environment, benefit managers should strive for a plan delivery and management system that matches the business environment and corporate strategy.

Employee Health Benefits

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Medical savings accounts: why do they work?

Article Abstract:

Medical savings accounts (MSAs) make individuals more cost-conscious in purchasing health care services. Employers use MSAs to deposit funds into employees' accounts, and employees use MSA funds to pay for their medical expenses. Firms using MSAs have reported savings substantially higher than the 15% level. MSA plans make employees more conscious when spending their healthcare money, and the cost of administering an MSA plan is lower than that of a traditional plan.

Analysis

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Managing medical savings accounts

Article Abstract:

A new alternative approach in medical benefit cost control is the use of medical savings accounts (MSAs). Employers use MSAs to deposit funds into employees' accounts and employees use MSA funds to pay for their medical expenses. MSAs reduce medical benefit costs and minimize the administrative costs of processing medical claims. Employees in MSAs might have out-of-pocket medical expenses exceeding their MSA fund levels.

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