Bupa Global’s Post

New Approaches to Managing Health Care Costs, Improving Outcomes   As health insurance and health care costs continue climbing, some employers are taking new and innovative steps to tamp down costs for themselves and their covered employees while not sacrificing the quality of care they receive.   Some of the strategies require a proactive approach by engaging with their broker and insurer, and even local health care providers, efforts that may be hampered by location and how flexible insurers may be. The goal for these employers is to reduce their and their employees' costs and improve health outcomes. Read More: https://lnkd.in/equ26w-Q #healthcare

Health insurance plays a vital role in expanding access to primary health care by lowering financial barriers, enabling more individuals to afford essential services. This leads to early diagnosis, preventive care, and improved health outcomes. By distributing the cost of care across a broader population, health insurance ensures that more people receive necessary medical attention without facing financial strain, thereby #strengthening #public #health #systems and #promoting #equity in #healthcare access. In Gakenke district, the implementation of #community-based #health #insurance known as #Mituweli has significantly improved access to primary health care. From 2015 to 2024, starting at 84.7 in 2015-2016 and steadily increasing to 100 by 2022-2023, where it remains through 2023-2024. This trend demonstrates a consistent rise in contributions over the years, highlighting the district's progress in enhancing health care accessibility.

Risk adjustment, which transfers money to/from insurers that have above/below average risks, is common in health systems. It is used as a tool to deal with insurer incentives for risk selection in the presence of premium regulations (such as community rating). Yet, selection is not just about insurer actions - it can be about consumer actions as well. In systems without a (strong) mandate – such as Australia, Chile, and Ireland – selection can lead consumers to select in and out of the system, presenting a major concern that adverse selection will occur. The classical solution for this concern is to allow for risk rating of premiums. Peter Paul Klein (RIVM National Institute for Public Health and the Environment), Richard van Kleef (Erasmus University Rotterdam), Josefa Henriquez (University of Newcastle), and Francesco Paolucci (University of Newcastle; Alma Mater Studiorum – Università di Bologna) illustrate the interaction between risk adjustment and risk rating, and develop measures to quantify selection from the viewpoint of both insurers and consumers.   The authors, using Chile’s private health insurance as a case study, show that risk rating of premiums reduces the need for risk adjustment. They also document that risk adjustment reduces premium variation across rating factors (i.e., age groups), thereby increasing incentives for consumers to select in and out of the market. This work has ramifications for the way risk rating and risk adjustment are used in voluntary health insurance markets. The paper was included in our 2023 Special Issue on Health Insurer Decision‐Making.   #healthinsurance #selection #riskrating

Risk adjustment, which transfers money to/from insurers that have above/below average risks, is common in health systems. It is used as a tool to deal with insurer incentives for risk selection in the presence of premium regulations (such as community rating). Yet, selection is not just about insurer actions - it can be about consumer actions as well. In systems without a (strong) mandate – such as Australia, Chile, and Ireland – selection can lead consumers to select in and out of the system, presenting a major concern that adverse selection will occur. The classical solution for this concern is to allow for risk rating of premiums. Peter Paul Klein (RIVM National Institute for Public Health and the Environment), Richard van Kleef (Erasmus University Rotterdam), Josefa Henriquez (University of Newcastle), and Francesco Paolucci (University of Newcastle; Alma Mater Studiorum – Università di Bologna) illustrate the interaction between risk adjustment and risk rating, and develop measures to quantify selection from the viewpoint of both insurers and consumers. The authors, using Chile’s private health insurance as a case study, show that risk rating of premiums reduces the need for risk adjustment. They also document that risk adjustment reduces premium variation across rating factors (i.e., age groups), thereby increasing incentives for consumers to select in and out of the market. This work has ramifications for the way risk rating and risk adjustment are used in voluntary health insurance markets. The paper was included in our 2023 Special Issue on Health Insurer Decision‐Making. #healthinsurance #selection #riskrating

Here’s the latest EBRI Fast Fact - Financial Wellbeing and Implications of Rising Health Care Costs. As a form of financial security, health insurance provides protection against unexpected large medical bills. This Fast Fact reviews some of the results from the EBRI/Greenwald Research 2023 Consumer Engagement in Health Care Survey, which recently found that most individuals with private health insurance feel financially secure to various degrees. See link to review - https://lnkd.in/eUk6HrJg #EBRI #FastFact #healthcare #costs #finance #survey #healthinsurance #paulfronstin #jakespiegel #greenwaldresearch #consumerengagement Employee Benefit Research Institute Greenwald Research

Seventy-two countries worldwide, representing approximately 69% of the global population, benefit from universal health coverage, ensuring access to a complete range of health services without financial burden, as reported by the World Health Organization. However, not every nation is as fortunate. A CEOWorld Magazine report highlighted by Visual Capitalist reveals the global disparities in universal healthcare provision. Interestingly, Germany made history by implementing the first social health insurance system back in 1883. Fast forward to 2024, and the US stands out as the sole developed nation without universal health coverage for all its citizens. #Healthcare #UniversalHealthCoverage #WorldHealthOrganization #CEOWorldMagazine #VisualCapitalist #Germany #US #HealthInsurance #GlobalHealthcareTrends

Navigating the Future of Healthcare with the NHI Bill The enactment of the NHI Bill represents a monumental shift in South Africa's healthcare system, aiming to provide universal healthcare coverage. However, implementation will take years, requiring significant financial, infrastructural, and policy challenges to be addressed. Health insurance remains vital during this transition, offering coverage that complements the public system. To make informed decisions, it's crucial to stay updated with developments and ensure that your healthcare plan meets your needs in this evolving landscape. https://lnkd.in/dGhYPXwf #essentialemployeebenefits #eebopinionpiece #healthcare #southafrica #nationalhealthinsurance #health #nhi

It was a challenging renewal (health insurance) season here in the U.S. - but even more challenging Globally. (7% vs 11.68%, respectfully) Most important - are the medical conditions driving the costs. Building a wholistic strategy that supports these conditions not only is the best way to mitigate the cost trends, but also the best way to create a program that best serves it’s workforce. The graph below outlines what conditions are driving costs globally. (Source: Lockton 2025 Global Medical Trend Report)

Health insurance provides financial security for medical expenses, ensuring access to essential healthcare. 🏥💼 Benefits include coverage for doctor visits, hospital stays, prescription medications, and preventive care. 🩺💉 It safeguards against unexpected health crises, reducing out-of-pocket expenses and promoting overall well-being. 💪🌐 Additionally, health insurance often includes wellness programs, fostering a proactive approach to health. 🏋️♂️🥗 Embrace the peace of mind that comes with health coverage! For More Info. Contact No. 👉 9810808059 #HealthInsurance #WellnessMatters #FinancialSecurity #HealthcareForAll

Tired of traditional insurance ads that offer nothing than just hospitalization coverage?   It’s time to rethink your approach to employee health! With Mentor Health Assurance, you can provide your team with an actual comprehensive healthcare solution that goes beyond just financial coverage. We focus on preventive care, ensuring early diagnosis and treatment to help your employees avoid the stress of hospitals and serious illnesses. By choosing Mentor Health, you’re not just investing in insurance; you’re investing in your employees’ wellbeing and reducing your overall healthcare expenses. Choose Mentor Health Assurance for your organization today! #EmployeeHealth #Mentor #MentorHealth #MentorHealthAssurance #Preventivecarebeyondfinancialcoverage #traditionalhealthcare #AssurancenotInsurance #PreventiveCare