Self-Insured Medical Enrollment Increased by More Than 1.6 Million Lives Between January 2008 and July 2008
NASHVILLE, Tenn., Dec. 22 /PRNewswire/ -- HealthLeaders-InterStudy, the leading provider of managed care market intelligence, reports that from January 2008 to July 2008 self-insured medical enrollment grew by 1.6 million lives, or 2.2 percent, to more than 75.3 million members nationwide. Details of this movement toward self-insured plans can be found in the latest release of Managed Market Surveyor-Rx, a database product from HealthLeaders-InterStudy that delivers medical and pharmacy benefit enrollment by managed care organization and geography with an easy-to-use interface.
"Increasing medical costs and a willingness to assume more risk are driving many employers, even small employers, to shift to self-insured medical enrollment products," said Sheri Sellmeyer, vice president of analysis for HealthLeaders-InterStudy. "Historically, we saw only the largest companies self-insure, but now employers with as few as 200 employees are moving toward self-insured plans as a way to control costs."
By assuming more risk, employers can reduce the overall premium costs for each employee through the elimination of premium taxes, risk charges and other costs. As employers seek lower cost alternatives to traditional fully-insured medical products, more insurance companies are offering self-funded options to meet demand.
Employers are also offering high-deductible consumer-driven health plans as an alternative healthcare benefit. According to HealthLeaders-InterStudy data, national enrollment in consumer-driven health plans increased by nearly 900,000 lives to more than 6 million members from January 2008 to July 2008.
"Consumer-driven health plans shift some of the risk and cost-sharing responsibilities to employees seeking a lower monthly premium, and provide employers another cost-saving option," said Sellmeyer.
Why Pharmaceutical Companies Need Managed Market Surveyor-Rx
Managed Market Surveyor-Rx delivers medical and pharmacy benefit enrollment data by managed care organization and geography (national, state, MSA) to better inform strategic planning and resource allocation. Relying on primary research and HealthLeaders-InterStudy's proprietary validation methodology, Managed Market Surveyor-Rx provides the most accurate managed care database available.
HealthLeaders-InterStudy, a Decision Resources, Inc. company, is the authoritative source for managed care data, analysis and news. For more information, please visit www.HL-ISY.com.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at. www.DecisionResourcesInc.com
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