Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance > Health Insurance

Health Buying Club Calculates Savings

Your article was successfully shared with the contacts you provided.

The Business Health Care Group says it believes it and its health carrier helped self-insured member companies cut health costs 4.5% per health plan member over a 2-year period.

The BHCG, Milwaukee, a group that buys health benefits for 675 southeastern Wisconsin companies, says it and Humana Inc., Louisville, Ky., the carrier, helped 18 self-insured member companies lower costs by about 14% in 2006, then helped member companies hold their annual increase to 6.1% in 2007.

Although costs rose in 2007, the BHCG increase was substantially lower than the Milwaukee average increase of about 10%, the BHGC says.

The BHGC notes that the cost change figures include only the underlying medical costs and exclude the effects of changes in benefits.

The self-funded BHGC member companies provide health coverage for about 55,000 employees and dependents.

The latest figures do not include an analysis of costs for insured BHGC members, but the insured members also saved money, the BHGC says.

In related news, the BHGC has renewed its provider network contract with Humana.

The Humana Preferred network created for the BHGC includes 4,500 doctors and 30 hospitals.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.