Smart Benefits: Tufts’ RightChoice Keeps it Simple for Consumers
Monday, November 18, 2013
Tufts Health Plan's 'RightChoice' is the first defined contribution model offered to large employers in MA and RI.
Defined Contribution’s Growing Appeal
Defined contribution models are quickly gaining the attention of employers, who like the ability to predict healthcare costs for budgeting purposes and simplified plan administration. And employees appreciate the greater options available, rather than just having one or two plans to choose from.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTOptions Abound
In its online marketplace, Tufts presents pre-bundled plan sets for employers with 51 to 99 employees – six in Rhode Island and eight in Massachusetts. For groups with 100 or more employees, Tufts will customize bundles, giving even more plan flexibility.
The plan bundles include choices of HMO, PPO and HSA plan selections, with a range of deductible options. There’s even a set that features a tiered network for further savings. Depending on the bundle selected, there can be as much as a 35% price difference between the lowest and highest cost plan offered.
Simplified Choice
With RightChoice, employers have the flexibility to offer up to five healthcare plans to employees. But more choices can mean tougher decisions for employees, so Tufts helps consumers select between plans with its simplified technology.
Before employees select a plan, they complete a short, easy-to-use survey that assesses what plan features and prices are important to them. Depending on their answers, consumers are guided to one or two plans that could be the best fit. Once they choose a plan, they can enroll online.
Is it the RightChoice?
If the growing, national trend is any indication of what Tufts can expect in the local market, its new defined contribution model may just be the right choice for large employers and employees.
Amy Gallagher has over 21 years of healthcare industry experience guiding employers and employees. As Vice President at Cornerstone Group, she advises large employers on all aspects of healthcare reform, benefit solutions, cost-containment strategies and results-driven wellness programs. Amy speaks regularly on a variety of healthcare-related topics, and is often quoted by national publications on the subject matter. Locally, Amy is a member of SHRM-RI, the Rhode Island Business Group on Health, and the Rhode Island Business Healthcare Advisory Council.
Related Slideshow: Check Out The Grades: Rhode Island Hospitals Report Card
A recent survey released by The Leapfrog Group assigns a Hospital Safety Score, using the report card system of A to F to each of the hospitals in Rhode Island. These grades are based on expert analysis of injuries, infections and errors that cause harm or death during a hospital stay.
Let's see how each of Rhode Island's hospitals were graded from highest to lowest:
Related Articles
- Smart Benefits: Employers Who Ignore Obamacare Will Pay
- Smart Benefits: How 3 New RI Laws Will Affect Employers
- Smart Benefits: Gay Marriage Ruling + Employer Compliance
- Smart Benefits: Healthcare Reform Delays Hit Consumers Hard
- Smart Benefits: Employer Exchange Model Notice Released Early
- Smart Benefits: 3 Ways Obamacare Hurts Employees
- Smart Benefits: Be Prepared For Fall Open Enrollment Changes
- Smart Benefits: Flexible Spending Accounts Get More Flexible
