PHCS Health Insurance Quotes, Plans, and Company Review

When looking for health insurance it is very important to keep in mind that there are many companies out there that will try offering you the best prices for your needs. However, not all of them are known all around the United States and not all of them offer you the same benefits. One of the many companies offering coverage in the continental United States is Private Health Care Systems best known as PHCS. They are the primary national PPO network and care management product of the company MultiPlan.

Before talking about PHSC it’s important to know a little bit more about the parent company. MultiPlan was founded in 1970 and is the oldest and largest of independent, network-based cost management solutions. They have more than half a million health care providers that service an estimated 40 million consumers. To top it all of the estimated millions of consumers have about 70 million claims that are processed through MultiPlan’s networks each year. How about that for a health insurance option?

On the other hand Private Health Care Systems (Owned by MultiPlan as said before) has the largest proprietary preferred provider (PPO) organization in all the United States. With about 450,000 members attending one of the 4,000 facilities PHCS members have access to a variety of providers around the United States. They are also the first and only propriety network to earn five endorsements due to quality from two nationally recognized quality assurance organizations, URAC and the National Committee for Quality Assurance (NCQA).

PHCS’ job is to contact their providers in order for them to allow their network member to visit them at lower costs. The network also has something referred to as a “High network retention rate” which means that once a customer selects a Primary Care Physician (PCP) that doctor will remain available all through their health plan. Most of the people that are members of this great network include large employers such as companies and enterprises, commercial insurance carriers, regional managed cared organizations and third party administrators. The PHCS network offers the following to its members:

National Access with Excellent Cost Savings: No matter where the members are, they offer a variety of services from coast to coast. You can contact them at (866) 750-7427 to see how much they can save you in health care costs.

PHCS Healthy Directions: Eliminates the need of having an HMO, PPO or POS because it pays full charges for services when a member travels or goes to school outside the coverage area. As a member you will be able to have freedom in order for you to choose a provider from within the national network, to lower your out of pocket costs for members with providers in the PHCS Network, and to call a toll free number in your I.D. card for provider information.

Quality: PHCS didn’t just link a variety of little networks and pierce them together, instead they created a national network that allows them to credential and re-credential their providers to maintain good quality healthcare.

Private Health Care Systems is a care management company as well as network based insurance. PHCS is the second largest independent care management company functioning in the United States today. Their care management specialists review any patients’ cases to make certain that patients receive the best treatment available as well as giving them freedom to from a variety of options that nest suit their unique utilization review needs. You are able to employ this care management system in the area of your business where it will make the biggest impact. PHCS Core Plan includes the following utilization management products, however, is important to keep in mind that you can add some supplemental products that will be discussed below in addition to the Core Value ones.

Core Value Plan:

1. Concurrent Review

2. Certification

3. Discharge Planning

Additional Supplemental Modules that can be purchased:

1. Chiropractic Review

2. Selective CT/MRI Review

3. Podiatry Review

4. Outpatient Rehabilitation Review

HSA Plans Help Soften the Blow to Your Wallet

Imagine having a way to pay for all your health care expenses with pre-tax dollars, pay lower than average monthly premiums in most cases and use the same plan to save for retirement. Well, if you haven’t heard until now, allow me to introduce the Health Savings Accounts or HSA’s? Here is a brief introduction to the best kept secret in health care.

HSA’s are fairly new to the scene within the grand scope of the health care industry. They have only been available to the American public since January 2004. HSA’s are often referred to as the 401(k) of the health care industry. The HSA is a special health plan directly tied to a bank account which is used to pay for qualifying medical expenses. To qualify for an HSA plan, the applicant must be enrolled in a High Deductable Health Plan or HDHP. Contributions into the HSA account can be made by an employer, the employee/individual, or both. All funds paid into an HSA account are owned and administered by the individual owner and not the employer nor the bank. Currently the maximum annual contribution into your HSA account is $2,900. for individuals and $5,800. for a family. If the plan owner is age 55 or older, “catch-up” contributions can be made until they enroll in Medicare.

Contributions to your HSA account roll over annually, with interest and/or investment earnings compounding on a tax free basis, just like a 401(k) or IRA account. However, unlike a 401(k) or IRA account your HSA has the potential to save you three times as much on taxes. This is because you are able to make tax free contributions to the account. All interest & investment earnings are tax deductable. Distributions for qualified medical expenses are also tax deductable.

HSA’s can be funded with an IRA account (except a SEP IRA). This transaction must be a direct trustee-to-trustee transfer. The IRA to HSA transfer may only take place once per lifetime. The only exception to this rule is if the contributing individual switches from a self-only to a family plan. You may not however fund an IRA nor any other type account with your HSA account.

HSA’s are portable; this means the account goes with you in the event you change jobs, become unemployed or self-employed. As of this writing, HSA plans are not available to individuals who have recently received health benefits from the Veterans Administration. HSA plans are also not available to individuals enrolled in Tricare. All funds remaining in the HSA account after age 65 (or if you become disabled) can be withdrawn for any purpose, even non-medical reasons without incurring the 10% IRS penalty.

The HSA as a powerful financial tool intended to empower the owner toward becoming more actively involved in their health care decisions. Sounds to good to be true? Absolutely not! HSA’s are steadily growing in popularity as more and more American’s realize the numerous benefits they offer.

The Importance of Employee Benefit Plans

A well structured employee benefit plan can help attract and retain productive employees that contribute to the bottom line of your business. Being aware of the tremendous impacts we all know is important. The absence of a valued employee due to health and stress related issues is costly, time-consuming and can be challenging to deal with from an HR perspective. In 2011, a Statistics Canada study found that businesses lost 105 million workdays due to employee illness and personal reasons, an average of about 9.3 workdays lost per employee.

According to a 2012 Conference Board of Canada study, these absences cost the economy an astounding $16.6 billion. When the costs associated with those absences are double and sometimes triple the cost of drug claims, we know we have a bigger problem than first imagined. Employees suffering long-term illnesses with no definitive diagnosis is a major and costly problem in the Canadian work place. Like most things in life, preventive maintenance can help avoid major problems. A well structured employee benefit and wellness program can help employees take care of themselves, remain healthy and stay productive.

It’s essential employers understand that investing in each employee’s health and well-being is not only a meaningful gesture, it’s good for business. This is why many leading employers now offer employee benefits that provide in-depth expert medical reviews, customized health coaching, and much more. Employee benefits plans can ensure your employees are getting the right diagnosis and treatment plan in the early stages. This will maximize productivity and improve morale in your company.

When compared to employees obtaining coverage on an individual basis, employee benefit plans are far more cost-effective. Through a group plan your employees will obtain enhanced dental, extended medical, prescription drug and access to disability coverage with no medical testing and at a discounted rate. The leverage of buying your coverage as group has its advantages. It is standard practice that private sector employers share the cost of the monthly premiums with their employees

There are a variety of options when it comes to constructing a plan that works well for your company. The nature of your business, your employee demographics and the type of budget you have available will all be considered when selecting the type of plan that works best for you.

Having employers and employees work together can form a powerful team against medical uncertainty and the millions of lost workdays that result from incorrectly diagnosed or improperly treated conditions.