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MedBen Municipality Group Costs Rose Just 1% in 2016

05/01/17

  07:39:00 pm, by MedBen5   , 221 words,  
Categories: Prescription, Wellness, Cost savings, MedBen University, Municipalities

MedBen Municipality Group Costs Rose Just 1% in 2016

Municipality groups administered by MedBen are seeing only minimal cost growth, according to an analysis of industry-specific benchmarks at the 11th Annual MedBen Municipality Roundtable on March 30.

In presentations to attending clients, MedBen President and COO Kurt Harden and Vice President of Sales & Marketing Brian Fargus reviewed cost and utilization trends for their medical and pharmacy plans, and pointed out areas of opportunity for future savings. Their observations included:

  • Per employee per year (PEPY) costs for MedBen’s municipality block rose only 1% in 2016, well below the current trend leading stop-loss carriers are using. The five-year trend for our municipality block averaged 3.2% per year.
  • Of the 14 municipalities performing better than their industry block average in claims costs, ten (or 71%) utilize our proprietary wellness program, MedBen WellLiving.
  • In regards to pharmacy plans, MedBen presented examples of the impact of high cost combination medications and provided recommendations on how to control the effect of those costs.

Of course, much more information was shared at Municipality Roundtable, as is the case at all MedBen University events. Speaking of which, interested employers (clients and non-clients alike) can get more useful advice on plan design, wellness, health care reform, and other topics at the 2017 MedBen Employer Roundtable on Thursday, May 11. For more information or to sign up, contact Sales Analyst Sally Wood at (800) 423-3151, ext. 502 or emailing swood@medben.com.

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