Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Don't Choose a Health Care Plan Based Solely on Its Name

Posted by: Today's Tip Contributor on January 29, 2010

When comparing health care plans during this year’s open enrollment period, don’t be enticed by "premium" names and overlook the plans labeled "value." Instead, understand how each works so you can map costs to how you expect to use the benefits.

For example, this year some plans aren’t raising premiums as much but instead increasing patient deductibles, co-payments, and out-of-pocket maximums in order to offset costs. This isn’t necessarily a bad thing, but it does illustrate why plans need to be carefully examined. This option actually makes sense not only for young and healthy employees who tend to use health care services less often, but also for older folks with conditions that require frequent doctor visits, as they might receive care often enough that they quickly reach the point where all services are fully covered.

So if you are prone to reaching your deductible, do some comparison math; If the difference in premiums for higher-tiered plans doesn’t cover the difference in costs of participating in standard plans, then those "platinum" plans may not really be the best choice.

Burton M. Goldfield
President and CEO
San Leandro, Calif.

Post a comment



Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!