Search
 
Best Practices

Taking The Wheel On Health Costs

With consumer-driven healthcare, companies leave the driving to their employees

By Staff Writer | Updated on April 01, 2005

Steve LeMieux, a district manager of Staples Inc. stores in Connecticut, didn’t have to think twice when the $13 billion industry leader in office supplies offered him and other employees the option of switching from their increasingly costly Blue

Cross/Blue Shield insurance plan to a new “consumer-driven” plan. Granted, the 43-year-old married father of two teenagers would have to pay out of pocket for the first $2,400 of his family’s health expenses. But under the new plan, Staples would place exactly that amount in an account for LeMieux, and if he went over, the company’s regular insurance plan would kick in–at an annual cost less than the plan without a $2,400 deductible. While there would be savings for both employee and employer with this option, what attracted LeMieux was the idea of being in charge. “I felt I’d have more control over my healthcare dollars,” he says. And if he were successful at holding down his out-of-pocket costs, he would get to keep, and roll over for next year, whatever part of the $2,400 that went unused.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.