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November 2006
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Welcome to Our Newsletter!
Benefit Services Group specializes in quality
employee benefit programs. Our clients are an
employer that cares about their employees. We
provide our clients a prescription on how to
contain benefit cost while maintaining a good
benefit program.
Welcome to Our Newsletter! It is with great
satisfaction, we bring you this newsletter you.
In this issue, and in coming months, we will
discuss pertinent topics which affect you and
your employees.
We have articles that will make throw some logs
in the fireplace listening to music (but not
WNIC, because November first is too early for
holiday music) and curl up with our newsletter
with these headlines. “Personality Helps Drive
Health Care Decisions, But All Types Can Become
Smarter Consumers”, “Generics Help Lower
Prescription Drug Spending Trend “, “Higher
Premiums for Those with Unhealthy Lifestyle
Behaviors Gaining Acceptance” and “Higher
Engagement, Lower Costs Characterize CDHP
Enrollees” are articles you don’t want to miss
stuffing your face with.
Let us know if you want us to further
investigate how some of these idea’s can improve
your employee benefits and or there cost. If
you have a topic for future discussion, please
let me know. We value your opinion; any
suggestions for
It is with great satisfaction that I bring this
newsletter to you. In this issue, and in coming
months, I will discuss pertinent financial
topics which affect you and your employees. If
you have a topic for future discussion, please
let me know. We value our relationships and
would like your opinion about our agency. Any
suggests? improvements? compliments? We would
appreciate hearing from you. Send via email to
jshort@benefitservicesgroup.com.
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J. Patrick Short
President
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Kenneth
E. Tebbetts
Account Executive
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Personality Helps Drive Health Care Decisions, But All Types Can Become Smarter Consumers
Personality traits play an important role in employees' health care choices and usage, according to a recent survey. But despite these differences, a large majority of employees believe that, in order to combat health care cost increases, people should adopt healthier lifestyles (88%) and should become smarter shoppers for health care services (74%).
Click here to read the full article
Generics Help Lower Prescription Drug Spending Trend
Prescription drug spending by employers rose by 5.4% in 2005, according to the annual Drug Trend Report from prescription drug benefit manager Medco, the smallest increase since the company began tracking this data in 1999. With the overall cost increase in health insurance premiums in 2005 averaging 9.2% (according to a separate study from the Kaiser Family Foundation), prescription drug costs, once a primary driver of health benefits spending, now lag behind the overall annual increases.
Click here to read the full article
Higher Premiums for Those with Unhealthy Lifestyle Behaviors Gaining Acceptance
With health care costs continuing to rise—albeit at a more moderated rate than a few years ago—some employers have tried to manage this trend by encouraging healthier employee lifestyles. Wellness programs, such as fitness classes, smoking cessation programs, and weight management counseling, could be considered “carrots” to achieve a healthier lifestyle, in that they provide encouragement and motivation toward leading a healthier life. An opposite approach, or “stick,” toward this same end, is the allocation of a higher share of health care costs to employees whose lifestyle behaviors are more likely to result in them having the need for more health care services.
Click here to read the full article
Higher Engagement, Lower Costs Characterize CDHP Enrollees
Participants in Consumer-Directed Health Plans (CDHPs) are more likely to make engaged, informed decisions about their health care, and more likely to use preventive health care services than non-CDHP participants, according to a study from UnitedHealth Group. The study covered three years of data from 40,000 CDHP participants and 15,000 individuals who were enrolled in preferred provider organizations (PPOs).
Click here to read the full article
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Please contact me about our company's employee benefit needs. I
can be reached at:
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The
purpose of this newsletter is to provide information about industry
trends and news of general interest to our clients, potential clients
and other professionals. Information about product offerings, services,
or benefits is illustrative and general in description, and is not intended
to be relied on as complete information. While every attempt is made
to ensure the accuracy of the information provided, we do not warranty
the accuracy of the information.
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