Affordable Health Care for Families in Oregon Now in Reach

PORTLAND, Ore.--(BUSINESS WIRE)--Jan. 31, 2005--Providence Health Plan and The Partners Group, one of Oregon's largest independent benefit consulting firms, today announced a new insurance plan to address one of the most significant concerns of businesses today -- escalating health care costs.





After three years in research and development, the two companies are launching Dependent Solutions(SM), the first group insurance plan designed to address the high cost of dependent health care coverage for children and spouses of employees. The plan ensures basic coverage while helping families save as much as $250 a month. It's available for the first time to Oregon businesses through The Partners Group.



"With premiums rising an average of 12-15 percent annually, one of the most costly benefits is coverage for dependents," said Rod Cruickshank, president of The Partners Group. "While most employers pay the majority if not the full premium for employee health care benefits, they're forced to pass on the cost of dependent coverage. For an average family, the monthly expense can exceed $500."



The typical monthly dependent care premium can force dependents off company plans in search of less expensive individual coverage. Often healthy dependents looking for the cheapest option settle for catastrophic coverage, which ensures benefits only for significant health emergencies. Unlike a traditional plan, this option includes high deductibles with no preventative care or prescription coverage.



"People deserve better -- and more affordable -- coverage," said Jack Friedman, chief executive, Providence Health Plan. "Together with The Partners Group, we were able to develop a plan that allows dependents to be covered at a level that is more affordable without sacrificing the basic elements of a solid health plan. It's a breakthrough for the industry -- the first effective attempt to curb premiums for a targeted group of people."



To keep costs low, Dependent Solutions raises deductible limits but does so without sacrificing coverage, ensuring competitive medical and prescription drug benefits for employees' spouses and children. It also enables families to stay within the same health insurance company, eliminating the hassle of finding alternative individual coverage.



The plan is available exclusively through The Partners Group in 2005 to large employers (51+ employees) located in the Providence Health Plan service area in Oregon.