Business Services Industry
Jury still out on consumer-driven health care plans; Employers slow to adopt plans that make employees more accountable.(News)
Business Insurance, March, 2003 by Benko, Larua B.
Byline: LAURA B. BENKO Logan Aluminum wasn't about to wait for the health care system to fix itself. Faced with skyrocketing insurance premiums, the Russellville, Ky.-based sheet metal manufacturer decided to replace its preferred provider organization this year with a new consumer-driven health plan offered by Aetna Inc.--one that makes the company's 1,000 employees more accountable for their own health care spending.
In doing so, Logan hopes to reverse a cost trend that has been eating into company profits and slicing into employee paychecks at an alarming rate. ``Our health insurance costs jumped 23.7% in 2001, followed by an 8.5% increase in 2002,'' said Howard Leach, Logan's director of human resources. ``That was a red flag that we needed to try...
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