HMO, PPO, HDHP… which one makes sense for you? Some plans have lower deductibles but may cost more in the long run. Employees need a way to easily compare plans based on their own personal healthcare needs. The BENEFITFOCUS® Plan Shopping App helps employees shop for medical plans and compare attributes based on coverage details, healthcare usage and estimated costs.
The app provides benefits education and defines complex concepts - like deductibles, coinsurance and out-of-pocket maximums – helping employees understand the relationship between their healthcare usage and costs for different types of plans.
With the Plan Shopping App, employees can estimate out-of-pocket medical costs based on industry averages, company averages or their actual claims data. Plan costs are displayed in a user-friendly, side-by-side comparison and each plan shows a breakdown of estimated annual costs. The Plan Shopping App includes mobile access so employees can access it on the go using their smartphones or tablets.
Employees can view and print a detailed calculation report, showing how the tool calculates the total out-of-pocket cost for each plan. In addition, they can display and print a total projected cost report for their preferred plan.
The Benefitfocus Plan Shopping App allows employees to add typical utilization details for themselves and their family members, and shows a total estimated out-of-pocket cost for each selected plan type based on projected usage. These plan comparison tools help employees understand the relationship between their healthcare usage and their estimated out-of-pocket cost.
The app also provides an estimate of annual healthcare expenses based on summaries of actual claims data for employees and their families and can predict what an employee's usage will be in the upcoming year if they follow a similar claims pattern.
Employees can see the differences in costs for each plan by:
- Personalizing their healthcare usage
- Changing coverage levels and/or adding dependents
- Displaying plan details for each plan
- Reviewing and printing a Plan Report
- Viewing a worksheet of plan costs