PLANTATION, Fla.--(BUSINESS WIRE)--March 3, 2005--The Board of Directors of 21st Century Holding Company (NASDAQ:TCHC), a vertically integrated financial services holding company, declared a regular quarterly dividend of $0.08 per common share payable on June 1, 2005 to shareholders of record as of May 2, 2005 at its regular quarterly meeting. The Company also announced that it will release its fourth quarter and fiscal year 2004 financial results after the market closes on Wednesday, March 23, 2005 followed by an investor conference call at 4:30 PM (ET).
The Company's Chairman and President, Edward J. Lawson, and its CEO, Richard A. Widdicombe, will discuss the financial results and review the outlook for the Company. Messrs. Lawson and Widdicombe invite interested parties to participate in the conference call. Listeners can access the conference call by dialing toll free 888-460-6235. Please call at least five minutes in advance to ensure that you are connected prior to the presentation.
Thursday, March 3, 2005
Cigna offering health savings accounts
Cigna HealthCare, one of the largest insurers operating in the Triad, said it would begin offering its health savings account health insurance plan to North Carolina companies with 51 to 200 employees.
Previously the company had only made the plan available to larger employers.
Health savings accounts, or HSAs, are tax-exempt investment accounts whose proceeds can be used to pay medical bills. In HSA plans, such as Cigna's, the investment account is typically paired with a high-deductible insurance plan.
The plans are designed to give consumers an incentive to spend carefully on health care and, HSA supporters say, encouraging people to spend less and therefore controlling health care expenses. Investment balances in the accounts can build up over time, rolling over year to year, giving employees an incentive to save.
In addition, workers can take the HSAs with them when they leave a job.
Nonetheless, the high deductibles, typically $1,000 or more for individuals and up to $5,000 for a family, can sometimes leave workers with steep balances to pay before they've accumulated enough money in the HSA to pay for them. Employers can contribute to the HSAs, but aren't required to.
Previously the company had only made the plan available to larger employers.
Health savings accounts, or HSAs, are tax-exempt investment accounts whose proceeds can be used to pay medical bills. In HSA plans, such as Cigna's, the investment account is typically paired with a high-deductible insurance plan.
The plans are designed to give consumers an incentive to spend carefully on health care and, HSA supporters say, encouraging people to spend less and therefore controlling health care expenses. Investment balances in the accounts can build up over time, rolling over year to year, giving employees an incentive to save.
In addition, workers can take the HSAs with them when they leave a job.
Nonetheless, the high deductibles, typically $1,000 or more for individuals and up to $5,000 for a family, can sometimes leave workers with steep balances to pay before they've accumulated enough money in the HSA to pay for them. Employers can contribute to the HSAs, but aren't required to.
Health Care Tax Credits Could Help Solve Nation's Uninsurance Problem
Bush administration proposal may provide starting point
Written By: Laura Trueman
Published In: Health Care News
Publication Date: March 1, 2005
Publisher: The Heartland Institute
--------------------------------------------------------------------------------
Support is growing for a proposed solution to the rising number of uninsured Americans: a federal tax credit for purchases of health insurance. If properly designed and implemented, supporters argue, such a tax credit would allow uninsured, low-income individuals and families to purchase affordable, quality health insurance.
The support for tax credits is bipartisan, ranging from President George W. Bush to Democratic lawmakers such as Albert Wynn (D-MD) and Edolphus Towns (D-NY), both of whom have sponsored tax credit bills with Republican members in the U.S. House of Representatives.
Bush's budget proposal for 2006 includes a health care tax credit to help low- and moderate-income Americans afford health insurance. He proposes a refundable income tax credit to cover 90 percent of the cost of a health insurance policy, up to a maximum of $1,000 for individuals and $3,000 for families. The income limits to qualify are $30,000 for individuals and $60,000 for families. The credit could be used for traditional health insurance, for a health savings account, or to buy into state-sponsored purchasing pools.
To be effective, a health care tax credit would have to meet some specific criteria:
it must be refundable for low-wage workers (that is, they get the subsidy even if they have no tax liability);
it credit must be advanceable, so that it can be used to pay monthly premiums as they come due, rather than a lump-sum payment received when tax returns are filed on April 15;
it must not come with costly mandates that price healthy people out of the market;
it must be widely available to attract many buyers and sellers;
it must be limited in dollar amount so that it does not encourage wasteful spending; and
it should be compatible with Health Savings Accounts.
Many of the proposals introduced in Congress, as well as Bush's proposed credit, meet those criteria.
Ineffective Credit in Place
In 2002, Congress established a health care tax credit for individuals who have lost their manufacturing jobs to foreign competition. Also eligible are individuals whose pensions are endangered because their former employer went belly-up.
The goal was to help this vulnerable population afford health insurance by giving them a credit worth 65 percent of the cost of their premiums. Yet only 6 percent of those who may be eligible have taken advantage of the credit, because of flaws in the design of the law.
In designing the credit, which falls under the Trade Adjustment Assistance (TAA) program, Congress created a problem by mandating that any insurance company offering policies to the eligible population must provide coverage to all individuals who qualify for the credit, regardless of their medical condition. This restriction, known as guaranteed issue, hurts those who need coverage by driving up prices.
When insurance companies are forced to accept all applicants, they raise premiums to cover the inevitable higher payouts. Subsequently, business dwindles because neither sick nor healthy people can afford the policies, so carriers leave the market, and rates go up as competition decreases.
Guaranteed Issue Fails Consistently
Those outcomes have been borne out repeatedly in all eight states that have imposed guaranteed issue on insurance carriers in the market for individually purchased insurance. For example, when New Jersey imposed guaranteed issue on all health insurers doing business there, premiums skyrocketed to more than double the national average.
Likewise, when Congress mandated guaranteed issue on carriers participating in the TAA credit program, the program received very few takers. According to the U.S. Treasury Department, of the 39 states participating in the program, 20 have no private carriers offering a policy, and 14 states have only one private insurer offering a plan.
Congress Limited Availability, Value
Congress also limited the usefulness of the TAA tax credit when it chose to restrict it mostly to individuals near retirement age and living on meager unemployment benefits--a population with more limited means and significantly higher health needs than most other uninsured persons. A recent Government Accountability Office report found that to use the tax credit, those eligible had to spend 13 percent to 25 percent of their monthly income on premiums.
Another flaw in the TAA health credit design is that it provides an unlimited, partial subsidy, rather than a dollar-for-dollar credit up to a maximum limit. Individuals must pay 35 percent of the cost of their health insurance, with taxpayers picking up 65 percent. This encourages waste by subsidizing the last dollar of insurance spending as much as the first dollar.
By contrast, a 100 percent tax credit for the lowest-income purchasers could reduce the cost of a modest but still comprehensive policy to zero. Limiting the credit to a fixed amount requires individuals to pick up 100 percent of the additional cost for policies with more expensive coverage.
The Bush administration's proposed tax credit offers a flat, dollar-for-dollar credit to low-income individuals ($1,000) and families (up to $3,000). The credit phases out gradually for those with higher incomes (more than 200 percent of the poverty level), but the fact that the amount is limited avoids the incentive to spend wastefully.
Workable Tax Credit Possible
The good news is that tax credits can work if they are well designed and target the right buyers.
The majority of today's uninsured are working individuals and families with very modest incomes. They earn too much to qualify for Medicaid, but not enough to afford coverage without assistance.
More than 80 percent of the nation's uninsured individuals have full or part-time jobs, and more than 30 percent have incomes that are 100 to 200 percent of the federal poverty level. This should be the target group for a health tax credit. (See the accompanying figure.)
This uninsured population is relatively young and eminently insurable at reasonable rates. In most states, the limited credit proposed by Bush would pay for between half and two-thirds of the average cost of health insurance (based on a full $1,000 tax credit and eHealthInsurance's estimated median individual premium of $1,656 per year).
For uninsured individuals with chronic health conditions, coverage should come through state high-risk pools, which already exist in 33 states. These pools allow the small percentage of the uninsured who have serious health conditions to obtain health insurance coverage at premiums that are capped at 150 to 200 percent of the average premium cost in that state.
This cost could be offset with tax credits, thus providing a safety net for a vulnerable population, while keeping premiums more affordable for others.
HSA Tax Credits Appealing
Congress could also consider using tax credits to help people afford the newly created Health Savings Accounts (HSAs). HSAs are attractive to those with modest incomes because premiums are much lower when high-deductible policies are coupled with HSAs.
A portion of the Bush administration's proposed federal tax credit ($700 for individuals, $2,000 for families) could be used to purchase insurance, and the remainder ($300 for individuals, $1,000 for families) could be deposited directly into a tax-free HSA to use for deductible expenses, as the administration has proposed.
Written By: Laura Trueman
Published In: Health Care News
Publication Date: March 1, 2005
Publisher: The Heartland Institute
--------------------------------------------------------------------------------
Support is growing for a proposed solution to the rising number of uninsured Americans: a federal tax credit for purchases of health insurance. If properly designed and implemented, supporters argue, such a tax credit would allow uninsured, low-income individuals and families to purchase affordable, quality health insurance.
The support for tax credits is bipartisan, ranging from President George W. Bush to Democratic lawmakers such as Albert Wynn (D-MD) and Edolphus Towns (D-NY), both of whom have sponsored tax credit bills with Republican members in the U.S. House of Representatives.
Bush's budget proposal for 2006 includes a health care tax credit to help low- and moderate-income Americans afford health insurance. He proposes a refundable income tax credit to cover 90 percent of the cost of a health insurance policy, up to a maximum of $1,000 for individuals and $3,000 for families. The income limits to qualify are $30,000 for individuals and $60,000 for families. The credit could be used for traditional health insurance, for a health savings account, or to buy into state-sponsored purchasing pools.
To be effective, a health care tax credit would have to meet some specific criteria:
it must be refundable for low-wage workers (that is, they get the subsidy even if they have no tax liability);
it credit must be advanceable, so that it can be used to pay monthly premiums as they come due, rather than a lump-sum payment received when tax returns are filed on April 15;
it must not come with costly mandates that price healthy people out of the market;
it must be widely available to attract many buyers and sellers;
it must be limited in dollar amount so that it does not encourage wasteful spending; and
it should be compatible with Health Savings Accounts.
Many of the proposals introduced in Congress, as well as Bush's proposed credit, meet those criteria.
Ineffective Credit in Place
In 2002, Congress established a health care tax credit for individuals who have lost their manufacturing jobs to foreign competition. Also eligible are individuals whose pensions are endangered because their former employer went belly-up.
The goal was to help this vulnerable population afford health insurance by giving them a credit worth 65 percent of the cost of their premiums. Yet only 6 percent of those who may be eligible have taken advantage of the credit, because of flaws in the design of the law.
In designing the credit, which falls under the Trade Adjustment Assistance (TAA) program, Congress created a problem by mandating that any insurance company offering policies to the eligible population must provide coverage to all individuals who qualify for the credit, regardless of their medical condition. This restriction, known as guaranteed issue, hurts those who need coverage by driving up prices.
When insurance companies are forced to accept all applicants, they raise premiums to cover the inevitable higher payouts. Subsequently, business dwindles because neither sick nor healthy people can afford the policies, so carriers leave the market, and rates go up as competition decreases.
Guaranteed Issue Fails Consistently
Those outcomes have been borne out repeatedly in all eight states that have imposed guaranteed issue on insurance carriers in the market for individually purchased insurance. For example, when New Jersey imposed guaranteed issue on all health insurers doing business there, premiums skyrocketed to more than double the national average.
Likewise, when Congress mandated guaranteed issue on carriers participating in the TAA credit program, the program received very few takers. According to the U.S. Treasury Department, of the 39 states participating in the program, 20 have no private carriers offering a policy, and 14 states have only one private insurer offering a plan.
Congress Limited Availability, Value
Congress also limited the usefulness of the TAA tax credit when it chose to restrict it mostly to individuals near retirement age and living on meager unemployment benefits--a population with more limited means and significantly higher health needs than most other uninsured persons. A recent Government Accountability Office report found that to use the tax credit, those eligible had to spend 13 percent to 25 percent of their monthly income on premiums.
Another flaw in the TAA health credit design is that it provides an unlimited, partial subsidy, rather than a dollar-for-dollar credit up to a maximum limit. Individuals must pay 35 percent of the cost of their health insurance, with taxpayers picking up 65 percent. This encourages waste by subsidizing the last dollar of insurance spending as much as the first dollar.
By contrast, a 100 percent tax credit for the lowest-income purchasers could reduce the cost of a modest but still comprehensive policy to zero. Limiting the credit to a fixed amount requires individuals to pick up 100 percent of the additional cost for policies with more expensive coverage.
The Bush administration's proposed tax credit offers a flat, dollar-for-dollar credit to low-income individuals ($1,000) and families (up to $3,000). The credit phases out gradually for those with higher incomes (more than 200 percent of the poverty level), but the fact that the amount is limited avoids the incentive to spend wastefully.
Workable Tax Credit Possible
The good news is that tax credits can work if they are well designed and target the right buyers.
The majority of today's uninsured are working individuals and families with very modest incomes. They earn too much to qualify for Medicaid, but not enough to afford coverage without assistance.
More than 80 percent of the nation's uninsured individuals have full or part-time jobs, and more than 30 percent have incomes that are 100 to 200 percent of the federal poverty level. This should be the target group for a health tax credit. (See the accompanying figure.)
This uninsured population is relatively young and eminently insurable at reasonable rates. In most states, the limited credit proposed by Bush would pay for between half and two-thirds of the average cost of health insurance (based on a full $1,000 tax credit and eHealthInsurance's estimated median individual premium of $1,656 per year).
For uninsured individuals with chronic health conditions, coverage should come through state high-risk pools, which already exist in 33 states. These pools allow the small percentage of the uninsured who have serious health conditions to obtain health insurance coverage at premiums that are capped at 150 to 200 percent of the average premium cost in that state.
This cost could be offset with tax credits, thus providing a safety net for a vulnerable population, while keeping premiums more affordable for others.
HSA Tax Credits Appealing
Congress could also consider using tax credits to help people afford the newly created Health Savings Accounts (HSAs). HSAs are attractive to those with modest incomes because premiums are much lower when high-deductible policies are coupled with HSAs.
A portion of the Bush administration's proposed federal tax credit ($700 for individuals, $2,000 for families) could be used to purchase insurance, and the remainder ($300 for individuals, $1,000 for families) could be deposited directly into a tax-free HSA to use for deductible expenses, as the administration has proposed.
Wednesday, March 2, 2005
Humana will offer Medicare HMO plans in area again
Humana, which dropped 10,000 seniors when it significantly scaled back its Medicare HMO operation in the Chicago area two years ago, will return to most of the suburbs it left, and others may re-enter the market.
Citing improved federal government reimbursements, Humana said it will offer its Medicare Advantage HMO plan, Humana Gold Plus, in 20 suburban Cook County cities north of Chicago, starting April 1. The expanded service territory includes Evanston, Glencoe, Glenview, Mount Prospect, Northbrook, Skokie, Wheeling, Wilmette and Winnetka, the insurer said.
Humana's return is good news for seniors, said Terri Gendel, advocacy and benefits director at the Suburban Area Agency on Aging. "It's good to have another option for people to look at," she said.
Humana pulled its HMO plan out of 23 Chicago area ZIP codes and seven ZIP codes in northwest Indiana in January 2003. The health insurer said it had to take the action because its network of doctors, hospitals and specialists had shrunk. Physicians and hospitals pulled out of the Medicare HMO program, blaming insufficient reimbursements from the federal government, which didn't cover their costs.
With Humana's departure, enrollees in affected suburbs were left with no other Medicare HMO alternative at that time. HMO plans had become popular because they typically provide more extensive and affordable health coverage than original fee-for-service Medicare plans, including prescription drug benefits, preventive care, routine physicals and vision plans.
In pulling out, Humana joined Aetna and United Healthcare of Illinois, which had dropped their Medicare HMO plans because of reimbursement issues.
At that time, Humana complained that annual increases from the federal government had been averaging roughly 2 percent, while medical inflation had ranged from the high single digits to double-digit rates. Due to the Medicare reform law in January 2004, reimbursements to the plans were increased 10.6 percent, and this year they rose 6 percent, according to the Centers for Medicare & Medicaid Services.
"We are pleased that reimbursements have stabilized to the point where they provide enough funding to allow Humana to build a strong, directly contracted network of physicians and health care providers that ensures a wide range of health care options for members of our plans," said Rob Hitchcock, Chicago-based Humana regional president for senior products.
Humana has about 36,000 Medicare HMO members in Cook, DuPage, Kane and Kendall counties, and 2,000 enrolled in Medicare private fee-for-service plans.
Two years ago, Humana said its network of primary care physicians in the Chicago area had fallen to 357 from 648 and the number of hospitals from 37 to 23. Its network of physicians has since recovered to 577, and 30 hospitals are now in its network, Hitchcock said Tuesday.
But Humana will no longer be the only kid on the block providing a Medicare HMO plan in the Chicago area. HealthSpring of Illinois, a subsidiary of Tennessee-based NewQuest Health Solutions, began offering a Medicare HMO plan here in January.
The Medicare reform act, which played a role in Humana's decision to expand its service territory here, may induce others to enter the market.
Besides prescription drug benefits, the Medicare reform law will next year expand the Medicare Advantage program, of which Medicare HMO plans are a part, to allow insurers to offer regional preferred provider organization plans. The PPO plans will let consumers choose from doctors and providers on a plan's preferred list, but they typically won't have to get referrals.
"Seniors have a lot more choices and plans have a lot more flexibility," Hitchcock said.
Gendel said she expects to see a few more companies enter the market.
Aetna said in the wake of changes under the Medicare reform law, it's "looking at additional markets" and may opt to re-enter Chicago with a Medicare HMO plan.
"We're looking at it, but haven't made any decisions," said Aetna spokeswoman Wendy Morphew.
Citing improved federal government reimbursements, Humana said it will offer its Medicare Advantage HMO plan, Humana Gold Plus, in 20 suburban Cook County cities north of Chicago, starting April 1. The expanded service territory includes Evanston, Glencoe, Glenview, Mount Prospect, Northbrook, Skokie, Wheeling, Wilmette and Winnetka, the insurer said.
Humana's return is good news for seniors, said Terri Gendel, advocacy and benefits director at the Suburban Area Agency on Aging. "It's good to have another option for people to look at," she said.
Humana pulled its HMO plan out of 23 Chicago area ZIP codes and seven ZIP codes in northwest Indiana in January 2003. The health insurer said it had to take the action because its network of doctors, hospitals and specialists had shrunk. Physicians and hospitals pulled out of the Medicare HMO program, blaming insufficient reimbursements from the federal government, which didn't cover their costs.
With Humana's departure, enrollees in affected suburbs were left with no other Medicare HMO alternative at that time. HMO plans had become popular because they typically provide more extensive and affordable health coverage than original fee-for-service Medicare plans, including prescription drug benefits, preventive care, routine physicals and vision plans.
In pulling out, Humana joined Aetna and United Healthcare of Illinois, which had dropped their Medicare HMO plans because of reimbursement issues.
At that time, Humana complained that annual increases from the federal government had been averaging roughly 2 percent, while medical inflation had ranged from the high single digits to double-digit rates. Due to the Medicare reform law in January 2004, reimbursements to the plans were increased 10.6 percent, and this year they rose 6 percent, according to the Centers for Medicare & Medicaid Services.
"We are pleased that reimbursements have stabilized to the point where they provide enough funding to allow Humana to build a strong, directly contracted network of physicians and health care providers that ensures a wide range of health care options for members of our plans," said Rob Hitchcock, Chicago-based Humana regional president for senior products.
Humana has about 36,000 Medicare HMO members in Cook, DuPage, Kane and Kendall counties, and 2,000 enrolled in Medicare private fee-for-service plans.
Two years ago, Humana said its network of primary care physicians in the Chicago area had fallen to 357 from 648 and the number of hospitals from 37 to 23. Its network of physicians has since recovered to 577, and 30 hospitals are now in its network, Hitchcock said Tuesday.
But Humana will no longer be the only kid on the block providing a Medicare HMO plan in the Chicago area. HealthSpring of Illinois, a subsidiary of Tennessee-based NewQuest Health Solutions, began offering a Medicare HMO plan here in January.
The Medicare reform act, which played a role in Humana's decision to expand its service territory here, may induce others to enter the market.
Besides prescription drug benefits, the Medicare reform law will next year expand the Medicare Advantage program, of which Medicare HMO plans are a part, to allow insurers to offer regional preferred provider organization plans. The PPO plans will let consumers choose from doctors and providers on a plan's preferred list, but they typically won't have to get referrals.
"Seniors have a lot more choices and plans have a lot more flexibility," Hitchcock said.
Gendel said she expects to see a few more companies enter the market.
Aetna said in the wake of changes under the Medicare reform law, it's "looking at additional markets" and may opt to re-enter Chicago with a Medicare HMO plan.
"We're looking at it, but haven't made any decisions," said Aetna spokeswoman Wendy Morphew.
State Legislature protects retirees' health insurance
At a time when retiree health insurance is under attack, both houses of the state Legislature have approved a union-backed bill to continue health insurance coverage protections for many public education retirees.
The legislation, which still needs the governor's signature to become law, extends until May 15, 2006, a moratorium that prohibits educational employers from diminishing health insurance benefits or contributions made on behalf of retirees and their dependents, unless there is a corresponding reduction in benefits for in-service employees (thus making any change subject to collective bargaining). Without this extension, the law would expire on May 15.
"Retiree health insurance is under attack like never before," said New York State United Teachers Executive Vice President Alan Lubin. "Without this extension, there'd be no legal requirement for educational employers to continue their longstanding commitment to providing health insurance coverage to retirees. There's no question many cash-strapped employers would abandon their commitment to save a few bucks."
In fact, NYSUT has recently won favorable court rulings upholding the moratorium law to protect health insurance benefits for retirees in Wappingers Falls in Dutchess County , Chenango Forks in Broome County , and Watertown in Jefferson County .
NYSUT has succeeded in securing the annual extension of the law since its original enactment in 1994.
For the long run, Lubin said the union seeks a permanent solution to the problem, as well as help for many retirees in Western New York whose districts have never shared retirees' health insurance costs.
"We continue to urge the Legislature and governor to enact legislation making these protections permanent," Lubin said. "We're also encouraging our elected officials to enact comparable legislation for all other retired public employees."
Lubin urged unionists to use NYSUT's Web site, www.nysut.org, to fax letters to the governor and legislators on the retiree health insurance issue.
The moratorium legislation comes at a time when several provisions in Bush's new Medicare law could encourage employers to drop health insurance coverage in the future.
The legislation, which still needs the governor's signature to become law, extends until May 15, 2006, a moratorium that prohibits educational employers from diminishing health insurance benefits or contributions made on behalf of retirees and their dependents, unless there is a corresponding reduction in benefits for in-service employees (thus making any change subject to collective bargaining). Without this extension, the law would expire on May 15.
"Retiree health insurance is under attack like never before," said New York State United Teachers Executive Vice President Alan Lubin. "Without this extension, there'd be no legal requirement for educational employers to continue their longstanding commitment to providing health insurance coverage to retirees. There's no question many cash-strapped employers would abandon their commitment to save a few bucks."
In fact, NYSUT has recently won favorable court rulings upholding the moratorium law to protect health insurance benefits for retirees in Wappingers Falls in Dutchess County , Chenango Forks in Broome County , and Watertown in Jefferson County .
NYSUT has succeeded in securing the annual extension of the law since its original enactment in 1994.
For the long run, Lubin said the union seeks a permanent solution to the problem, as well as help for many retirees in Western New York whose districts have never shared retirees' health insurance costs.
"We continue to urge the Legislature and governor to enact legislation making these protections permanent," Lubin said. "We're also encouraging our elected officials to enact comparable legislation for all other retired public employees."
Lubin urged unionists to use NYSUT's Web site, www.nysut.org, to fax letters to the governor and legislators on the retiree health insurance issue.
The moratorium legislation comes at a time when several provisions in Bush's new Medicare law could encourage employers to drop health insurance coverage in the future.
Tuesday, March 1, 2005
Medical Mutual Launches New Website
CLEVELAND, Feb. 28 /PRNewswire/ -- Medical Mutual of Ohio has launched a redesign of its award-winning Web site with upgrades and innovative features to help its members make more educated healthcare decisions.
"With today's consumer-focused trend in healthcare, we listened to our customers and we're ready to give them the best online experience possible," said Chris Hoffman, Medical Mutual manager of Internet Communications.
Hoffman said the new MedMutual.com contains all of the essentials that Medical Mutual Web-site users have enjoyed in the past, but the site now offers an entirely new feel and easier navigation, in addition to providing more consumer information and interactive tools. "One of the main goals of the redesign is to make it much easier for customers, employers, brokers and providers to use the company's online services," said Hoffman
The project began in June of 2004 with Medical Mutual customers having a huge say in the Web redesign. Hoffman and his staff gathered input from users of the company's My Health Plan, a Web-based program offering personalized account and claims information to Medical Mutual customers 24 hours a day, seven days a week.
Among the Web redesign questions posed to customers: Is My Health Plan organized in the most user-friendly way possible and how can it be improved? The customer focus-group offered suggestions which, Hoffman said, was invaluable to the final redesign features of MedMutual.com.
Among some of the new features:
Health Estimator. In the Healthcare 101 section, members are provided with a Health Estimator which displays the cost of the top 100 most commonly performed procedures that occur in either a hospital or doctor's office. Coming online in March, Health Compare will provide customers with hospital quality information.
MDhub. This feature provides secure, online communication between Medical Mutual members and their physicians, where they can schedule an appointment, renew a prescription, obtain laboratory tests or request a referral.
The redesigned Web site also provides easier access and navigation of Medical Mutual's popular SuperWell Health Management Health Programs and WebMD, the leading provider of online information, educational services and communities for physicians and consumers.
"We not only have to provide our members with more consumer information, but we have to do it in a way that's easy to use and understand," added Hoffman.
According to Hoffman, the new Web site includes tighter online security. "The site provides more security for members by allowing them to create their own unique user name and password instead of using Social Security numbers, which are currently used only for registration," said Hoffman.
"With today's consumer-focused trend in healthcare, we listened to our customers and we're ready to give them the best online experience possible," said Chris Hoffman, Medical Mutual manager of Internet Communications.
Hoffman said the new MedMutual.com contains all of the essentials that Medical Mutual Web-site users have enjoyed in the past, but the site now offers an entirely new feel and easier navigation, in addition to providing more consumer information and interactive tools. "One of the main goals of the redesign is to make it much easier for customers, employers, brokers and providers to use the company's online services," said Hoffman
The project began in June of 2004 with Medical Mutual customers having a huge say in the Web redesign. Hoffman and his staff gathered input from users of the company's My Health Plan, a Web-based program offering personalized account and claims information to Medical Mutual customers 24 hours a day, seven days a week.
Among the Web redesign questions posed to customers: Is My Health Plan organized in the most user-friendly way possible and how can it be improved? The customer focus-group offered suggestions which, Hoffman said, was invaluable to the final redesign features of MedMutual.com.
Among some of the new features:
Health Estimator. In the Healthcare 101 section, members are provided with a Health Estimator which displays the cost of the top 100 most commonly performed procedures that occur in either a hospital or doctor's office. Coming online in March, Health Compare will provide customers with hospital quality information.
MDhub. This feature provides secure, online communication between Medical Mutual members and their physicians, where they can schedule an appointment, renew a prescription, obtain laboratory tests or request a referral.
The redesigned Web site also provides easier access and navigation of Medical Mutual's popular SuperWell Health Management Health Programs and WebMD, the leading provider of online information, educational services and communities for physicians and consumers.
"We not only have to provide our members with more consumer information, but we have to do it in a way that's easy to use and understand," added Hoffman.
According to Hoffman, the new Web site includes tighter online security. "The site provides more security for members by allowing them to create their own unique user name and password instead of using Social Security numbers, which are currently used only for registration," said Hoffman.
Popular Health Insurance Expands Cost-Saving Options
Press Release
(PRWEB) March 1, 2005 -- MedSave.com announces that the nation’s most popular short-term health insurance plan for young applicants is now offering cost-saving features that will specifically benefit more mature plan members. Short-term health insurance is comprehensive coverage that only lasts up to six months. Applicants may apply for additional policies to extend coverage for longer periods. The cost is significantly less than the price of longer-term health insurance even though the benefits are substantially the same.
American Health Shield is the most popular health insurance at MedSave.com for applicants under age 30 because the average premium cost is less than $75 per month for full coverage. The insurance is valid for treatment from any medical provider in the United States. Now this health insurance adds a $5000 deductible policy option and a 50/50 co-payment option that make the starting cost of this insurance plan lower than almost all other comprehensive health insurance plans. Cost of comprehensive insurance coverage for adults over age 40 will be now available for significantly less than $100 per month. This insurance is available in 46 states. Policies are issued online and ID cards are sent by mail, usually on the next business day.
Tony Novak, owner of MedSave.com, points out that high deductible plans are not for everyone, but they do offer two specific advantages other than simply a cost savings. The first advantage of carry low cost health insurance is that expensive medical treatment is not denied to a patient simply because the patient has a high deductible insurance plan. Having no insurance, on the other hand, will eliminate the possibility of receiving the best medical care in a catastrophic situation for all but the wealthiest of Americans. Second, an inexpensive high deductible insurance plan offers exactly the same HIPAA protection as more expensive health insurance plans. HIPAA protection refers to the law that guarantees new employees immediate coverage for pre-existing medical conditions when they join an employer-provided group health insurance plan. In contrast, new employees with no health insurance during an employment change may need to satisfy another 18 month waiting period on their new health insurance plan before benefits resume at their previous level. High deductible health insurance is recommended for healthy applicants with the financial ability to work out payment arrangements directly with providers for smaller medical bills.
The cost savings options are only available to applicants who apply online because the printed enrollment materials will not be modified immediately. (Online applications include those who fill out an application online and then fax or mail it to the underwriter). See www.MedSave.com for more information.
(PRWEB) March 1, 2005 -- MedSave.com announces that the nation’s most popular short-term health insurance plan for young applicants is now offering cost-saving features that will specifically benefit more mature plan members. Short-term health insurance is comprehensive coverage that only lasts up to six months. Applicants may apply for additional policies to extend coverage for longer periods. The cost is significantly less than the price of longer-term health insurance even though the benefits are substantially the same.
American Health Shield is the most popular health insurance at MedSave.com for applicants under age 30 because the average premium cost is less than $75 per month for full coverage. The insurance is valid for treatment from any medical provider in the United States. Now this health insurance adds a $5000 deductible policy option and a 50/50 co-payment option that make the starting cost of this insurance plan lower than almost all other comprehensive health insurance plans. Cost of comprehensive insurance coverage for adults over age 40 will be now available for significantly less than $100 per month. This insurance is available in 46 states. Policies are issued online and ID cards are sent by mail, usually on the next business day.
Tony Novak, owner of MedSave.com, points out that high deductible plans are not for everyone, but they do offer two specific advantages other than simply a cost savings. The first advantage of carry low cost health insurance is that expensive medical treatment is not denied to a patient simply because the patient has a high deductible insurance plan. Having no insurance, on the other hand, will eliminate the possibility of receiving the best medical care in a catastrophic situation for all but the wealthiest of Americans. Second, an inexpensive high deductible insurance plan offers exactly the same HIPAA protection as more expensive health insurance plans. HIPAA protection refers to the law that guarantees new employees immediate coverage for pre-existing medical conditions when they join an employer-provided group health insurance plan. In contrast, new employees with no health insurance during an employment change may need to satisfy another 18 month waiting period on their new health insurance plan before benefits resume at their previous level. High deductible health insurance is recommended for healthy applicants with the financial ability to work out payment arrangements directly with providers for smaller medical bills.
The cost savings options are only available to applicants who apply online because the printed enrollment materials will not be modified immediately. (Online applications include those who fill out an application online and then fax or mail it to the underwriter). See www.MedSave.com for more information.
Subscribe to:
Posts (Atom)
:.
