NU Online News Service, June 22, 4:45 p.m. – Definity Health, Minneapolis, says Dade Behring, Deerfield, Ill., a clinical diagnostics company, will begin offering Definity’s defined contribution health plan to its 3,500 U.S. employees Jan. 1, 2002.
Employers that sign up for the Definity program pay a set amount into each employee’s “personal care account” each year. Members use the accounts to pay for the health care services of their choice. Employees can roll over any funds left in the accounts at the end of the year to pay for future medical expenses, Definity Health says.
If an employee’s annual health care costs exceed the amount of funds in the personal care account, a high-deductible major medical policy kicks in, the company says.