Regulators Focusing on Healthcare Cost
Lt. Gov. Wyman’s Healthcare Cabinet continues to meet and hear from consultants hired by the cabinet to report on healthcare cost containment issues.
Recent presentations focused on what other states are doing to control healthcare costs.
The consultants met with CBIA’s Health Affairs Council this week as part of their outreach to stakeholders across the state.
The HAC includes health benefit experts from Connecticut companies interested in healthcare affordability and availability.
Employers on the HAC shared their views on cost containments strategies, including strategies they are using at their companies and action they would like to see from the state.
The group brought up a number of topics including the scores of cost-raising health benefit mandates in Connecticut, fees on the fully insured market (typically smaller employers), and innovative strategies undertaken by self-insured employers to engage their employees.
The goal is to help Connecticut employers—large and small—increase quality and decrease the cost of healthcare.
Employers are also engaged in an effort led by the State Innovation Model regarding Value Based Insurance Design—plans that aim to encourage healthy behaviors.
A simple example of VBID design is an employer offering a no-cost flu shot clinic to their employees.
The employer pays for the flu shot because the return on that investment means that employees are more likely to get the flu shot and therefore their workforce is less likely to be impacted by the flu--which decreases absenteeism and increases productivity.
While the VBID group is considering more complex plan design options, the bottom line of the final proposals should be the same--straightforward options for employers to implement if they choose that will help address quality and cost of healthcare.
The goal is to help Connecticut employers--large and small--increase quality and decrease the cost of healthcare.
Connecticut employers responding to a recent CBIA survey ranked healthcare costs among their top three business concerns.
Not only do employers help pay for their employees’ health insurance, but having a healthy workforce is key to their success--a healthy, productive workforce has a positive bottom line impact.
For more information, contact CBIA’s Jennifer Herz (860.970.4404) | @CBIAjherz
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