Blue Cross of California is First Major Health Plan to Offer Defined Contribution Program to Small Employers.Health/Medical Writers THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. , Calif.--(BW HealthWire)--Feb. 27, 2001 FlexScape Program Allows Fixed and Predictable Prices for Employers, While Offering Wide Array of Price and Coverage Options for Employees Blue Cross of California, an operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of WellPoint (NYSE NYSE See: New York Stock Exchange :WLP WLP WebLogic Portal (Bea Systems) WLP Wafer Level Packaging WLP Women's Learning Partnership (Bethesda, MD) WLP Workplace Learning & Performance WLP World Library Partnership, Inc. ), is responding to health care market trends and demands by introducing FlexScape, an array of health coverage programs that include an innovative "defined contribution" financing approach for employers. FlexScape gives small business owners (2-50 employees) the opportunity to contribute one fixed low price toward employee premiums regardless of age, location or plan selection. Available April 1, 2001, FlexScape price points and options are designed to meet small employer needs and will be accessible to all California small businesses. FlexScape's array of health plans coupled with its new defined contribution financing options will allow uninsured businesses, or those considering dropping existing coverage, to offer Blue Cross coverage to their employees. "FlexScape will be influential in attracting first-time, uninsured businesses and existing buyers because of innovations like our fixed and customizable defined contribution choices," said Mark Weinberg Sir Mark Aubrey Weinberg (born 9 August 1931) is regarded as one of the United Kingdom’s leading financiers, with over forty years’ experience in the financial services market. , group president, individual and small group division, WellPoint. FlexScape offers all small employers a new level of financial predictability over health care costs by establishing fixed dollar contribution option levels. "Defined Contribution 100" limits the employers' monthly contribution for medical coverage to no more than $100 per covered employee per month. "Defined Contribution Select" empowers the employer to pay any fixed monthly amount in excess of $100. For those employers preferring to contribute 50 percent or more to their employees' monthly premiums, Blue Cross still offers a traditional contribution approach. A "Defined Contribution 80" option (available later this year) will allow the employer to offer a low, fixed amount of $80 per employee, per month. Under all of these options, employees are responsible for any monthly premium amount in excess of their employer's contribution. Employees can manage their share of costs by choosing the health care coverage that best fits their lifestyle and their families' needs. FlexScape makes this possible through its unique EmployeeElect Plus product, offering employees the widest choice of affordable plans with prices ranging from high, medium to low. EmployeeElect Plus also includes an option to pay with pre-tax dollars. Small business owners seeking to recruit and keep top-notch employees, particularly in an economy that may be slowing, can present a competitive and attractive health benefits package with FlexScape from Blue Cross. "Blue Cross has always been a leader in product innovation for individuals and small groups. FlexScape is the next generation of products for small employers that addresses price, affordability and choice for companies and their workers," said Deborah Lachman, senior vice president of small group for Blue Cross. Blue Cross of California, with 5.5 million medical members in the state, is the California operating subsidiary of WellPoint Health Networks Inc., one of the nation's largest publicly traded health care companies. WellPoint serves the health care needs of nearly 7.9 million medical and more than 40 million specialty members nationally. WellPoint offers a broad spectrum of quality network-based health products including open access PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there , POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale and hybrid products, HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, and specialty products. Specialty products include pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. , dental, utilization management Utilization management is the evaluation of the appropriateness, medical need and efficiency of health care services procedures and facilities according to established criteria or guidelines and under the provisions of an applicable health benefits plan. , vision, mental health, life and disability insurance, long term care insurance, flexible spending accounts flexible spending account, n an employee reimbursement account primarily funded with employee-designated salary reductions. Funds are reimbursed to the employee for health care (medical and/or dental), dependent care, and/or legal expenses and are , COBRA administration, and Medicare supplements. |
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