Monday, February 11, 2013

How High Deductible Plans Lead to Low Healthcare Spending

An article published from Forbes titled “How High Deductible Plans Lead to Low Healthcare Spending” shed some light on the impact that high-deductible health plans are having on consumer's healthcare spending. Highlights from the article are as follows:
  • There was a 3.8% increase in health costs in 2009 &  a 3.9% increase in health costs in 2010 this equates to the slowest growth rate in 50 years
  • There was a 14% increase from the 2010 total individuals enrolled in consumer-directed health coverage
  • Health Savings Accounts (HSA) allow people to save their pre-taxed income to spend it on their health care needs
  • A study from RAND Corporation concluded that someone who switches from a traditional health plan to a consumer-directed health plan uses 14% less medical services
  • More consumers using directed plans would reduce national health spending
  • Also according to the study from the RAND Corporation stated that expanding employers with plans such as 50% would reduce health costs by $57 billion per year.
To download the full article, please click here: How High Deductible Plans Lead To Low Healthcare Spending

For additional billing and coding resources, please click the following link: Medical Reimbursement Billing and Coding Resources.

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