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.
As industry stakeholders, we understand the end game of consumer-directed healthcare (CDH) – educated, engaged and empowered consumers, lower costs system-wide and improved health outcomes. Adoption of consumer-directed health plans (CDHPs) has grown by leaps and bounds over the last 15 years and with that growth has come growing pains. The haste of employers to implement money-saving CDHPs has, in some cases, lead to tactically-driven versus strategically-driven implementations that have resulted in consumer disengagement and ultimately low adoption. While the push toward CDHPs continues, there is tremendous opportunity for those who have a solid plan to offer win-win solutions for both employers and consumers. Continue reading to learn about plan design that leads to better adoption of CDHPs.
For health plans, third party administrators and financial institutions that administer CDH accounts, the selection of an account administration platform, as well as the investment in time and money required to convert an existing portfolio, is significant. If you’re looking to embark on a brand new automation journey or just considering changing vendors, we’ve compiled a list of the top 10 questions to ask when choosing a CDH platform.
Like consumer-directed healthcare (CDH), digital payments have experienced explosive growth over the last 10 to 15 years. How can the healthcare industry proactively progress from the convergence of digital transformation and consumer-directed healthcare growth to ultimately improve the consumer experience in healthcare?
TripleTree is an independent merchant bank focused on mergers and acquisitions, financial restructuring and principal investing services. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare.
The passage and implementation of the Affordable Care Act (ACA) have brought with it many sweeping changes to the healthcare industry and have caused many employers to take a fresh look at the way they offer healthcare benefits. Insurance market reforms – such as the establishment of public exchanges, expanded coverage mandates, and quality and value incentives – continue to drive employers and consumers toward adoption of high deductible health plans (HDHP) and complementary health savings accounts (HSAs).
Consumer-driven healthcare plans and accounts have been continuously growing and evolving since the introduction of FSAs in the 1970s – from the rollout of the HRA, to the latest incarnation of account-based health plans, the HSA. There are many compelling reasons to ride the wave of migration away from other CDH accounts to leverage and incentivize HSA adoption. We will dive into those reasons, pairing best practice guidance that will help benefits administrators accelerate the path from FSAs and HRAs to HSAs.
With the Alegeus automated billing and invoicing solution, you can recognize benefit account administration revenue faster and with less hassle than ever before.
Like with any business, trying to keep up with manually invoicing and billing your clients can consume an inordinate amount of time. What if we told you that you could significantly reduce the time spent on billing and get paid faster? With automated billing and invoicing from Alegeus, you can!