| Issue: # 10 |
January 25, 2008 |
Greetings!
Keeping you informed of the latest developments in the employee benefit marketplace.
If you have any questions, e-mail Bill or Vanessa. To learn more about Advantage Benefits, click here. Many of our clients have found these newsletters to be quite helpful and we have now set up a link to hold all the archived newsletters on-line that can be accessed at anytime.
If you know anyone, who may find this information of interest, please forward them this newsletter (there is a link on the bottom), and they can subscribe themselves.
Sincerely,
Bill Randell & Vanessa Costa
Advantage Benefits |
| HMO Cutting Edge Technology
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It wasn't so long ago when we would deliver large bulky "Administrative" kits every time a client changed health plans. Now all of that has changed, clear your shelves of all "administrative" packages. Any form that you may need is merely a click away:
You may also go to www.advantagebenefits.com for enrollment forms, COBRA paperwork, etc.
All of these carriers will let you do enrollment and termination of employees right on-line. If you want to manage your account on-line, send us and e-mail and we can get you in touch with the appropriate person at each of these plans. |
| Fallon Expands Direct Network
More then Central Massachusetts |
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Fallon sells two networks for their HMO health plans:
- Direct: 696 Primary Care Doctors, 2585 Specialists and 32 Hospitals
- Select: 2396 Primary Care Doctors, 5541 Specialists and 58 Hospitals
If you choose the Direct Network, rates for the same plan design will be approximately 13% less then the Select Network. The Direct Network has been expanding and now includes groups such as the Acton Medical Associates, Charles River Medical Associates and Southboro Medical Group. Groups that already have Fallon may want to take a closer look to see whether or not the Direct network will meet the needs thereby cutting health premiums by 13%. You can also offer both networks and allow the employees to make the decision.
In addition, Fallon has joined up with PHCS, for their PPO plan. Between the Fallon Select Network and the PHCS network, it is very likely that your doctor will be accepted as "in network" under the PPO option. Keep in mind that the PPO comes with at a premium, typically running approximately 17% higher then HMO Select. The PHCS network is the same network that both Harvard and Tufts use for their PPO plans.
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Two Networks
Get use to it. We attended a Blue Cross Seminar a few months back, where a plan was explained that would have different co-payments based on the doctor or the hospital that performed the service. In other words, there would be a "preffered" list of doctors and hospitals that had lower out-of-pocket expenses then the other doctors and hospitals not in the "preferred" network.
In the end we see it being quite possible the other HMO's may come up with their own version of a "Direct" network that would provide lower premiums through a limited network.
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