Health Insurance Cost Sharing
Are you an Employer?    Attract the Best Candidates with Smart Job Postings! Search Legal Resumes
Legal Jobs Board for Attorneys, Law Students & Legal Staff | Serving USA & Other Countries | LawCrossing

Need Help? Call (800) 973-1177 

Job Seeker Login   Employer Login 

Job Seekers?  Try it Now  

ATTORNEY JOBS
LAW STUDENT JOBS
LEGAL STAFF JOBS
Download LawCrossing Online Apps: Click here  
Promote Your Attorney Profile on Law.net - Get Found / Earn More!
What Are You Looking For:

United States

+Advanced search

Legal Jobs >> Legal Articles >> Law Firm Health Insurance >> Health Insurance Cost Sharing
  • Law Firm Health Insurance

Health Insurance Cost Sharing


by      
Printable Version PDF Version Email to a Friend
Subscribe to LawCrossing  
 Share on Facebook
 Twitter

Like LawCrossing on Facebook


It is important to understand what effects changes to employer-sponsored insurance plans will have on healthcare benefits and whether you will have to incur additional out-of-pocket expenses.

Some of the features of health insurance plans adopted by employers to share the costs of health insurance include deductibles, co-payments, co-insurance, and out-of-pocket maximums. Payments associated with these options have to be made for physician office visits and hospital stays, among other health insurance services.

A 2006 annual survey on employer-sponsored health insurance plans conducted by the Kaiser Family Foundation and the Health Research and Educational Trust shows the following:

Deductibles

The majority of employees are enrolled in employer-sponsored health insurance plans with no general deductibles. Most employees are members of health maintenance organizations (HMOs) and point-of-service (POS) plans, while one-third are enrolled in PPO plans.

Of those employees enrolled in plans without general deductibles, many have to make co-payments or pay for other charges when they are hospitalized or have outpatient surgery. 60% of employees enrolled in HMOs and 55% enrolled in PPOs and POS plans have to pay fees for hospitalization due to cost sharing.

POS plans have the highest deductibles on average, followed by PPOs and HMOs for employees enrolled in single- and family-coverage deductible plans.

Employees of smaller firms have higher deductibles compared with those working for large firms.

Cost Sharing for Physician Office Visits

The majority of employees have to pay fixed co-payments rather than percentages of costs when they visit physicians. Most of those enrolled in plans with co-payments must pay between $15 and $25 per visit.

Hospital Cost Sharing

In addition to annual plan deductibles, nearly half of employees face hospital cost sharing. Hospital cost sharing may be required in the form of fixed dollar amounts (co-payments) or co-insurance. The average fixed payment per hospitalization is $231, while the average co-insurance rate is 17% for each hospital admission.

Out-of-Pocket Maximums

Partial or total limits on out-of-pocket maximums may not apply to all required cost sharing under an employee's plan, including plan deductibles. Cost sharing in the forms of deductibles, prescription drug expenses, and certain services is treated differently by different plans. Some plans include these costs as out-of-pocket expenses when calculating members' maximums, while some do not, forcing employees to bear higher financial burdens.

Most family-coverage plans have out-of-pocket maximums of less than $4,000, while fewer than half of those enrolled in plans with separate, per-person out-of-pocket maximums pay less than $3,000 for family coverage.

You should be aware of changes to your employer's health insurance plan and any corresponding increases in the maximum amount you will be required to pay out of pocket. This will help you to plan for potential medical expenses.
If this article has helped you in some way, will you say thanks by sharing it through a share, like, a link, or an email to someone you think would appreciate the reference.



Facebook comments:

Related Jobs
Insurance Attorney / Litigation Attorney in Canton, OH
General Counsel Consulting (GCC) is the only professional firm that works full time t...
Source : Recruiter
apply now!
Insurance Attorney in King of Prussia, PA
Claims Counsel The candidate will investigate and handle claims to resolution. Deter...
Source : Employer
apply now!
Insurance Attorney / Litigation Attorney in Westerville, OH
General Counsel Consulting (GCC) is the only professional firm that works full time t...
Source : Recruiter
apply now!
View more related jobs
On The Net
Employer Health Benefits—2006 Annual Survey
www.kff.org/insurance/7527/upload/7527.pdf



Featured Testimonials

LawCrossing has the largest number of listings and at the same time is very easy to use.
Lisa

Facts

LawCrossing Fact #163: You can apply for many of the jobs listed on our site via email or regular mail -- whatever is most comfortable and convenient for you!


total jobs
74,268
Upload Your Resume
New Legal Jobs in Last 7 Days
18,586
Job of the day

Corporate Attorney / Entertainment Attorney in Houston, TX
USA-Houston
Legal Counsel Digital Candidate will provide strategic legal counsel and direction to the Digital Marketing/Sales/Innov...

apply for free
 
job search tip
A resume is a direct-mail piece. It needs to sell. If your phone's ringing off the hook, it's working. If it's not, revise it- now.

Your privacy is guaranteed. We will never give out, lease, or sell your personal information.


Shoot for the moon. Even if you miss it, you will land among the stars.