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Category: "Cost savings"

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11/03/15

  10:47:00 pm, by MedBen5   , 209 words,  
Categories: News, Prescription, Cost savings

As Prescription Drug Use Grows, So Does Need To Control Costs

Pharmaceutical use shows no sign of slowing, with nearly 60% of Americans using prescription drugs in 2011, new research finds. According to Reuters Health, a multi-year study revealed that prescription drug users rose from 51% of U.S. adults in 1999… more »

10/26/15

  05:29:00 pm, by MedBen5   , 243 words,  
Categories: News, Health Plan Management, Cost savings

Initial ICD-10 Implementation Reports Find No Claim Processing Disruptions

In the months -- more precisely, years -- leading up to the October 1 implementation of the ICD-10 medical coding system, there was no small amount of concern as to whether the massive increase in codes would create claims inaccuracies and turnaround… more »

10/14/15

  08:08:00 pm, by MedBen5   , 308 words,  
Categories: Prescription, Cost savings

Pharmacy Costs Rising, But Smart Strategies Can Save Money

The rising price of prescription drugs is a frequently-covered topic in the media, but recent events have shown the spotlight that much brighter. Even so, comparatively little has been written about when patients can do to keep their medication costs in… more »

09/10/15

  11:08:00 pm, by MedBen5   , 303 words,  
Categories: Announcements, News, Prescription, Cost savings

Drug Costs On Pace For Major Increases In 2016

From BenefitsPro: “A survey of 60 leading health care vendors conducted by Aon, a major human resources consulting firm, shows that the cost of prescription drugs is on pace to increase by 10 percent in the next year, up from the estimated 6.3 increase… more »

08/28/15

  10:45:00 pm, by MedBen5   , 227 words,  
Categories: News, Health Plan Management, Cost savings

Employers Seeing Bigger Health Care Cost Increases, But MedBen Defies Trends

The state of health care costs in 2015, summed up in two new surveys (per Business Insurance): "Large employers are projecting health care costs before implementing plan design changes to increase an average of 6% in 2016, according to a National… more »

08/18/15

  05:19:00 pm, by MedBen5   , 335 words,  
Categories: Wellness, Health Plan Management, Cost savings

Despite Predictions, Employer-Sponsored Coverage Remains Strong -- And For Good Reason

"Reports Of The Death Of Employer Sponsored Health Insurance Are Greatly Exaggerated," reads the headline of a recent Forbes article. Blogger Todd Hixon cites a 2011 study that foretold a 30% drop in employer-sponsored health insurance (ESHI) would… more »

07/30/15

  06:25:00 pm, by MedBen5   , 277 words,  
Categories: News, Health Plan Management, Health Care Reform, Reporting, Cost savings

Health Care Spending Is Creeping Up; MedBen Can Help Employers Keep It Down

Health care spending rose 5.5% in 2014, according to a new report published on in the journal Health Affairs -- the first comparatively large increase following multiple years of more modest growth. Economists from the Centers for Medicare and Medicaid… more »

06/23/15

  10:48:00 pm, by MedBen5   , 281 words,  
Categories: Health Plan Management, Stop-loss, Cost savings

MedBen Captives Enable Smaller Employers To Take Advantage Of Reinsurance Opportunities

Midsize and smaller employers are increasingly making the switch to self-funded health care coverage due in part to greater reinsurance availability, says a leading stop-loss carrier... and at MedBen, we're helping these employers benefit from the… more »

06/19/15

  04:17:00 pm, by MedBen5   , 283 words,  
Categories: News, Health Plan Management, Consumer-driven Health Plans, Cost savings

FSA Carryover Rule Has Increased Participation, Employers Say

Since the IRS announced in 2013 that flexible spending account participants could carry over up to $500 of their unused funds to the following year, many employers have added the option to their FSA plan. (About half of MedBen clients that offer FSAs… more »

06/18/15

  04:00:00 pm, by MedBen5   , 250 words,  
Categories: News, Wellness, Cancer, Cost savings

Smoking Numbers Down, But Smoking-related Cancer Deaths Still High

Regardless of how much U.S. smoking rates have dropped in the last few years, one fact remains constant: Smokers still make up a disproportionate number of adults who die from cancer. According to Kaiser Health News, a study by the American Cancer… more »

06/16/15

  07:12:00 pm, by MedBen5   , 300 words,  
Categories: News, Prescription, Health Plan Management, Cost savings

Most Americans Say Drug Costs Too High, Drugmakers To Blame

Despite the fact that most people who take prescription drugs say can afford to purchase them, Americans overwhelmingly feel that the costs of such drugs are "unreasonable," a new poll finds. The survey by the Kaiser Family Foundation found that 74% of… more »

06/11/15

  04:06:00 pm, by MedBen5   , 379 words,  
Categories: News, Health Plan Management, Health Care Reform, Cost savings

Embedded Maximum Requirement May Necessitate Plan Changes

On May 26, the Departments of Health and Human Services, Labor and Treasury released a clarification as to whether or not self-funded health care plans are subject to a new Affordable Care Act regulation regarding family out-of-pocket costs. The short… more »

06/10/15

  05:27:00 pm, by MedBen5   , 222 words,  
Categories: Wellness, Health Plan Management, Cost savings

Research Doesn't Support Injections For Knee Pain

If you suffer from joint pain, it's understandable that you want a "quick fix" to the problem -- hence, the popularity of hyaluronic acid injections to soothe aching knees. But while some doctors and patients vouch for their effectiveness, there's… more »

05/15/15

  06:27:00 pm, by MedBen5   , 555 words,  
Categories: News, Wellness, Health Plan Management, Cost savings

MedBen Wellness Roundtable Offers Proven Success, Savings Strategies

MedBen University offered timely and practical worksite wellness advice at its First Annual Wellness Roundtable on May 14. Co-sponsored by MedBen and Sun Life Financial, the event explored wellness programs from multiple perspectives and provided a… more »

05/08/15

  03:58:00 pm, by MedBen5   , 211 words,  
Categories: News, Health Plan Management, Cost savings

"Considering" Self-funding? At MedBen, Employers Are Buying It

In a recent interview by Employee Benefit Advisor, a representative from a national employee business service company says that fully-insured employers with as few as 50 employees "are seriously considering self-funding." At MedBen, our experience is… more »

04/30/15

  03:43:00 pm, by MedBen5   , 255 words,  
Categories: News, Health Plan Management, Reporting, Cost savings

5.5% Health Care Spending Growth Estimated For 1st Quarter 2015

Based on a preliminary federal estimate of economic activity in the first quarter of 2015, health care spending will continue to increase at a higher rate than in previous years, Modern Healthcare reports. Data released on April 29 by the U.S.… more »

04/22/15

  02:38:00 pm, by MedBen5   , 203 words,  
Categories: Announcements, News, Prescription, Cost savings

Pharmacy Cost Report Shows How "Middle Men" Can Save Money

Businesses often advertise that they "cut out the middle man and pass the savings on to you." And indeed, sometime that's an effective money-saving strategy. But not always. Case in point: A new report on cost management for Medicaid pharmacy benefits… more »

04/17/15

  04:38:00 pm, by MedBen5   , 401 words,  
Categories: News, Health Plan Management, Cost savings

Municipalities Get Benefit Planning Advice At MedBen Roundtable

Government business representatives gathered on April 16 at the C. Arthur Morrow Conference Center in Newark, Ohio for the 9th Annual MedBen Municipality Roundtable. Current MedBen clients were able through the presentations to see how their plan costs… more »

04/06/15

  04:16:00 pm, by MedBen5   , 242 words,  
Categories: News, Wellness, Cost savings

CDC: U.S. Death Rate From Hypertension Continues To Rise

The overall death rate from high blood pressure continues to rise in the United States, suggests a new report from the Centers for Disease Control and Prevention. According to HealthDay News, the report found that U.S. deaths linked to hypertension… more »

03/30/15

  08:31:00 pm, by MedBen5   , 203 words,  
Categories: Announcements, News, Prescription, Discounts, Cost savings

MedBen Self-funded Clients See Average 8% Rx Spending Drop In 2014

In 2014, MedBen self-funded clients experienced an overall average 8% decrease in pharmacy spending per member per month while most employers were experiencing 12% increases. Employers who worked with MedBen drove higher generic utilization by aligning… more »

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