It’s time to integrate workers’ comp and medical plans. Here’s how to do it

-

It’s time to integrate workers’ comp and medical plans. Here’s how to do it
Michelle Zettergren

Workers’ comp and medical benefits traditionally have been separated, but the costs and inefficiencies of operating two systems to handle worker health have become unsustainable, highlighting the need for an integrated medical and workers’ comp benefits solution. And despite what you may have heard, integration is possible, and preferable.

Direct and indirect costs of workers’ comp claims can be burdensome, amplified by the hassle of having to secure medical care from separate systems simply because of where the injury occurred (on the job). Additionally, treatment provided as part of workers’ comp tends to be more expensive than health plan-covered treatment. Physicians, facilities and pharmacy benefit managers charge workers’ comp payers more for the same services than they typically charge health plans, simply because they offer high volume discounts to the health insurers, which account for 98% of the total medical spend. Medical bill clearinghouses also charge more per bill for workers’ comp bills, for the same reason. Consolidating the two silos into one program that provides members with the best of both worlds reduces costs and provides better service. Read More

 

 

Magnacare Press

MagnaCare and International Association of Fire Fighters Health & Wellness Trust Grow Benefits Administration Partnership

Expanded relationship extends national support for first responders…

Read Post

23 payer executives’ top priorities for 2024

  23 payer executives’ top priorities for 2024…

Read Post

New Video Celebrates the Achievements of Labor

  MagnaCare showcases union workers at annual NYC…

Read Post

Teamster Benefit Fund Holds 29th Annual Expo

Teamster Benefit Fund Holds 29th Annual Expo NYC’s…

Read Post