A recent study shows Consumer Driven Health Plans (CDHPs) save money without compromising care and employees are increasingly engaged and smarter about their health and health spending. When compared to traditional plans the study found employees:
- Spend less on overall medical services
- Receive equal or better quality care
- Are more engaged in their health and health spending
- Are more satisfied with their health care experience
CDHPs are significantly less expensive than traditional PPOs or HMOs – by about 15%, on average. The use of CDHPs has been growing steadily over the past five years, particularly among the largest organizations. In 2010, offerings of CDHPs ranged from 14% among employers with 10–49 employees to 51% among those with 20,000 or more employees.
The keys to successful implementation of CDHPs are communication and education. Studies show that when people have a strong understanding of their CDHP and feel comfortable with the level of perceived financial risk associated with it, they become better health care consumers. Detailing how the plan works and how it differs from their existing benefits are critical communication components before, during, and after implementation.
By employing strategies and tactics designed to create active participants who are encouraged and rewarded for choosing and using quality care, employers and employees come out on the winning side.
Unhealthy, unproductive, unengaged employees are one of the largest strategic risks an organization faces. As companies seek to maximize their return on human capital, having healthier, happier, and more engaged employees reduces costs and improves productivity year after year.
