Two useful options for saving money on your employees healthcare costs
In today’s business world employers all across the county are struggling with the decisions of how to operate as lean as possible without taking away anything from their employees. With regards to an employers retirees there are some options that organizations can use to help offset some of the costs. Two important and helpful programs that an employer should look into that help save money on healthcare costs are theRetiree Drug Subsidy Program (RDS) and the Early Retiree Reimbursement Program (ERRP)
In 2005 The Centers for Medicare & Medicaid Services (CMS) introduced the Retiree Drug Subsidy (RDS) program. What the program does is reimburse municipalities, unions and private employers for a portion of their eligible expenses for retiree prescription drug benefits. Over the years employers have slowly but steadily cut back on their prescription drug coverage for retirees. CMS introduced this program with the goal of encouraging employers to continue providing high-quality prescription drug coverage to their retirees. The nice part about this program is that it is very straightforward and there is usually little to no benefit design changes to current coverage.
Another more recent, yet temporary program that is offered to employers to help with healthcare costs is the Early Retiree Reimbursement Program. The Program was established by the Affordable Care Act, which was a part of the Healthcare Reform Bill passed in early 2010. The program provides $5 billion in financial assistance to employers to help them maintain coverage for early retirees age 55 and older who are not yet eligible for Medicare. The program will reimburse employers 80 percent of all medical costs per retiree, which includes their spouses and dependents. The cost must however be between the $15,000-$90,000 worth of expenses. Employers can use the savings to either reduce their own health care costs, provide premium relief to their workers and families or a combination of both.
Figuring out how to operate efficiently and effectively without cutting into employee benefits is a real challenge. It is becoming even more important in this economy to continue to search out and explore any available option for your organization that keeps it competitive and keeps your employees happy. There are options out there that are meant to help employers save money, for answers to questions about these programs visit rdsservices.us.
A Majority Of Physicians Oppose US Healthcare Reform
Healthcare reform is a highly debated topic these days, due to new legislation passed by President Obama late last year. Although the American public seems to be divided in their stance on the reform act, the now majority Republican-controlled House is not its only critic- a recent study cites that many physicians themselves are actually opposed to the reform efforts. Among the major points made, physicians polled feel that reform calls for a greater number of healthcare workers, many of whom are not required to earn doctorate-levelhealthcare degrees like nurse practitioners and physician assistants.
The report recently released by Thomson Reuters and HCPlexus details the results of a national survey which polled nearly 3,000 U.S. physicians on the issue of healthcare reform. The overall consensus can be generalized to say that a majority of physicians feel “frustration and dismay in a time of change.” ”
Of the physicians polled,
65% believe that U.S. healthcare will deteriorate with five years
18% believe it will improve
17% believe it will stay the same
If the healthcare reform act passed by President Obama remains in legislation, under the Patient Protection and Affordable Care Act (PPACA), an estimated 32 million currently uninsured Americans will have will access to healthcare. Physicians participating in the survey report concern over who will treat these new patients. Nurse practitioners and physician assistants will likely begin seeing and treating nearly as many patients as physicians themselves.
According to the report, “physicians overall have a clear frustration with the non-physician providers’ compensation, which is comparable to primary care physicians, citing that nurse practitioners and physician assistants are not as well-trained or as educated.”
Nurse practitioners and physician assistants do have an education above a bachelor’s degree, but are not required to have earned their doctorate from a medical school like a physician.Healthcare degrees of all levels are in high-demand in response to reform efforts, which will require greater numbers of healthcare workers overall, in both an administrative and clinical capacity. Online programs offering advanced healthcare degrees are growing in popularity as a method for working healthcare professionals to earn the additional credentials necessary to qualify for higher-level positions.
Results of the study also claim that a majority of physicians have a similarly cynical view on how healthcare reform will affect patients. Results conclude that:
58% feel the legislation will negatively affect patients
27% feel the effect will be positive
Survey results distinguished responses among physicians of different medical practices, for example, as primary care physicians, or psychiatrists. Of all participating groups, pediatricians and psychiatrists were the most optimistic about the future of healthcare. On the other hand, dermatologists were found to have the most negative outlook; not a single dermatologist polled reported a belief that current healthcare reform efforts would have a positive effect on physicians.
Emily writes about Online Education for University-bound.com – a resource site for those interested in earning a degree online.
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