Wednesday, March 11, 2015

Defined Contribution in Health Insurance

 
Many in the health insurance and employee benefits space are claiming to have found the next new, innovative and sure fire way to reduce health insurance costs.  Actually its an old idea, originally deployed in the retirement/pension area of the overall employee benefits palette, and fairly recently resurrected for use in employer provided health insurance.  The next "silver bullet"?

DEFINED CONTRIBUTION

(Remember 401(k)s gradual replacement of many defined benefit retirement pension plans in the eighties?)
Two large, well known U.S. businesses recently announced their intent to go with a defined contribution strategy for their health insurance offering (Time Magazine and Hilton Worldwide), joining others previously taking the plunge including Darden Restaurants, Sears, and Walgreens.  So what are the pros and cons to such an approach?  What is it exactly?  How does an employer deploy it?

To access the complete article, click - https://www.smstevensandassociates.com/ResourceLibrary/tabid/192/Default.aspx
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6 comments:

  1. elson cadeJune 25, 2015 at 8:02 AM

    This comment has been removed by the author.

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  2. ZabOctober 15, 2017 at 7:11 PM

    Thanks for the definitions. This is something that I need to take seriously. I believe Maxicare bests serves my interest.

    ReplyDelete
  3. UnknownSeptember 17, 2018 at 7:42 PM

    AGS Health Insurance is not a medical aid and under no circumstances must it be considered as a replacement for the benefits offered by a medical aid.

    ReplyDelete
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  6. James harperNovember 3, 2018 at 12:26 PM

    I found so many interesting stuff in your blog especially its discussion. Really its great article. Keep it up. GPW Law

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