With an eye toward cost savings for companies self-funding insurance coverage, Blue Cross and Blue Shield of Minnesota subsidiary CCStpa has launched a new health plan, called Simplicity.
Typically, businesses self-funding health insurance work with benefits plan administrators to create custom plans. A health insurer administers the claims for a fee, with employee claims being paid by the business. These customized plans, however, often come with high administrative costs, draining limited resources that could be used to cover claims.
CCStpa's new product offering, Simplicity, offers employers pre-packaged plans designed to fit a variety of needs and budgets. These plan options are geared toward mid-sized employers, which have been choosing to self insure in greater numbers as health insurance rates have risen over the years.
Simplicity offers three plan options:
Plan I provides essential coverage should a catastrophic medical event occur. This product introduces a graduated coinsurance payment where the member's coinsurance decreases as claim dollars paid increase.
Plan II includes 100 percent coverage for retail clinic visits totaling up to $100 per member each year for basic services needed due to common illnesses plus the essential coverage desired should a major medical event occur.
Plan III incorporates a consumer-driven health plan component providing a health savings account to manage the higher deductible out-of- pocket expenses.
To learn more about Simplicity, visit http://www.ccstpa.com/public/agents/simplicity_agent_sell_sheet.pdf.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].