Employers Committed to Control Health Insurance Costs (E.C.C.H.I.C.) to Hold Seminar in Topeka
Employers Committed to Control Health Insurance Costs (ECCHIC), a network of insurance brokers and employers committed to stabilizing medical benefit costs through proactive and creative cost management methods, will present a free seminar on Health Insurance Cost Management in Topeka on March 10.
(PRWEB via MobilityNewswire) March 1,
2004--Employers Committed to Control Health Insurance Costs (ECCHIC), a network
of insurance brokers and employers committed to stabilizing medical benefit
costs through proactive and creative cost management methods, will present a
free seminar on "Health Insurance Cost Management" in Topeka on Wednesday, March
10 beginning at 10:30 a.m. at the Capitol Plaza Hotel, 1717 SW Topeka Boulevard.
Lunch will be provided. Small business owners and individuals with health
insurance concerns are invited to attend these informative
seminars.
Health insurance benefits are the fastest growing cost center
for employers today. At the same time, these costs are also often the least
evaluated, managed, analyzed and understood by employers. Often, employers know
the total cost of co-pays and premiums but not the amount actually spent on
health care, which could potentially be quite a bit less than is spent on
pre-paying for health care through insurance companies. At the same time,
doctors and providers are being paid the same for their services today as they
were five years ago, even though health insurance premiums escalated over 70
percent during this same period of time.
“The vast majority of medical
payments that are processed by insurance companies are less than $100.00, costs
for which insurance was not originally meant to cover,” said Howard Danzig, the
St. Louis-based cost management expert who founded ECCHIC. “Auto insurance
doesn’t cover the cost of replacing tires or batteries and homeowners’ insurance
doesn’t cover the cost of fixing a faulty furnace, yet the reason medical
insurance has become so cost prohibitive is because it is used for affordable,
predictable expenses that should be paid directly to healthcare
providers.”
ECCHIC is advocating a program that is based on cost
efficiency and evaluation of actual claims costs. By helping employers contain
costs and only pay for the health care that is provided to employees, ECCHIC has
substantially stabilized costs for participating employers, including a number
of hospitals, school districts and private companies. Several ECCHIC employers
have experienced unchanged budget and cost contribution levels for benefits for
three or more years in a row with no decrease in benefits. Further, after
detailed cost analysis, all participating employer groups are spending less than
they would have using their old methods of shopping around for the lowest rates
and adjusting benefit packages for employees.
ECCHIC emphasizes that
employer groups must access medical services at a non-inflationary discounted
rate thus reducing the cost of benefits by approximately 30%. The group also
educates employees on how to purchase major medical insurance efficiently to
meet need and risk.
Those interested in attending the ECCHIC seminar
should register by calling 800-280-0010.
Media contact:
Jill
Bronaugh
TalonPR, Inc.
785-224-1851
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Source : http://www.prweb.com/releases/2004/3/prweb107968.htm