Wouldn’t it be great if you could track the key performance indicators of your own employer groups as well as those of your peers? Your Alegeus platform contains a wealth of demographic, account and transactional information that can lend clues to performance – what’s working and what’s not – as well as insights about what characteristics top and bottom performing accounts have in common.
2017 will ring in a new Congress, a new administration and a new healthcare reform process. There are many unknowns into how the Republicans will ultimately “replace” the Affordable Care Act (ACA), but the ground work for the initial “repeal” began late 2015 when Speaker Paul Ryan and Sponsor Tom Price passed an “ACA repeal bill.” President Obama vetoed the bill in January 2016.
Expanding consumer directed healthcare (CDH), especially the use of health savings accounts (HSAs), will be a large part of the eventual ACA replacement legislation. HSAs have been a key component in every healthcare reform proposal that Republicans have sponsored. Leadership in both Houses of Congress and within the incoming President Trump administration have all introduced or sponsored HSA expansion bills.
President Obama signed H.R. 34 today, which includes a variety of healthcare provisions, including the 21st Century Cures Act and the Alegeus-supported HRA provision for eligible small employers.
Since the popularity boom of private exchanges and defined contribution beginning in 2014, there still exists a number of barriers to employee adoption. Unfortunately, much of the conversation around exchanges and defined contribution has been focused on hype and skepticism. The fact of the matter is, the concept of a healthcare marketplace has been in existence for some time, it has just taken on a new complexion in the face of rising costs for both employers and healthcare consumers.
The Institute for Healthcare Consumerism (IHC) focuses on innovative health and benefit management and helps employers to engage their employees in their own health and well-being.
The end of the year is a great time for a performance checkup, but without access to peer performance information, it can be difficult to understand how your CDH program stacks up against others in the industry. Fortunately, Alegeus is uniquely positioned to identify benchmarks for operational efficiency and growth, as well as top performance behaviors, from its comprehensive client base that you can leverage to improve performance.
Like it or not, the migration toward CDH is fully underway, making the strategic importance of consumer-directed health plans and benefit accounts that much more significant. Health plans must carefully consider their strategies regarding CDH account offerings.
Plan documents and non-discrimination testing are two necessary, yet incredibly mundane operational and compliance requirements related to the administration of tax-advantaged benefit accounts. For many administrators, plan document creation and non-discrimination testing procedures offer very little strategic significance or market differentiation, yet are costly and require tedious effort.
As an Alegeus client for more than a decade, PrimePay, has grown its CDH business to support more than 1,500 employer groups representing nearly 50,000 benefit accounts across CDH offerings. Understanding the market movement to consumer driven health and the upside potential for their business, PrimePay is partnering with Alegeus to educate the market.