ANAHEIM, Calif. Health insurance has been regarded by most American companies as a standard employee benefit since World War II, but two experts say that is changing.
Mike Evert, employee benefits product manager for CUNA Mutual Group, and David Martin, managing principal, credit union services for Digital Benefit Advisors, said consumer-driven healthcare plans, or CDHPs, are growing significantly more popular. A CDHP is a health insurance plan with lower premiums and features higher deductibles and coinsurance than traditional health plans.
“We must regain control over the system itself,” Martin told attendees of the CUNA HR/TD Council’s conference here. “The market is moving toward CDHPs.”
Evert said it is important for HR specialists at credit unions to understand the Affordable Care Act. “Explore alternative funding of healthcare and know there are going to be significant rate adjustments coming right around the corner,” he said.
Look for more coverage of the HR/TD Council’s conference in the print edition of Credit Union Journal.
