Friday, August 26. 2011
Consumer-driven health plans are continuing to grow in popularity as businesses seek ways to eliminate the growing cost burden of obtaining health insurance, according to United Benefit Advisors.
While CDHPs saw minimal growth in 2010, they have risen in prominence 13.9 percent in 2011. The consumer-centric plans now make up 22.9 percent of the health insurance marketplace, the source reports.
CDHPs have even become more prevalent than health maintenance organizations, which have been employed in recent years to curb costs when it comes to group health insurance. HMOs currently comprise 11.9 percent of the insurance market, according to the source.
"This year experienced an increase [of CDHPs], albeit less than the average 8.2 percent increase of all plans," explained Bill Stafford of UBA. "As these plans become more prevalent, the percentage of savings has continually declined."
However, as consumers will be able to control costs by using preventative care, the overall cost savings may still continue. Individuals should take advantage of wellness plans that come with their policies, 80.6 percent of which will include a health risk assessment, the source explains.
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