Health Plan Provider SeeChange Health Introduces Value-Based Benefit Design to Colorado
Department of Insurance approves the company's wellness-focused medical plans for small businesses
DENVER, Aug. 28, 2012 /PRNewswire/ -- The Colorado Department of Insurance has authorized SeeChange Health Insurance (www.SeeChangeHealth.com) to offer medical plans to the state's small businesses. SeeChange Health is already the fastest growing health plan in California.
"Our health insurance is new, different, and we believe, better," said Alan Katz, SeeChange Health's EVP for Sales & Marketing. "Like traditional plans we're there for our members when they're sick or injured. But we go further, offering financial rewards to those taking steps to improve and manage their health."
This approach, referred to as value-based benefit design, has been shown to reduce the rate of growth of health care costs by revealing undiagnosed chronic conditions. "Early detection and intervention of serious health problems means a better quality of life for members, a more productive workforce for employers and lower health care costs for everyone," Katz said. "SeeChange Health's technology platform has long helped larger employer groups enjoy the advantages of value-based benefit plans. We're now bringing this innovation to the small group market."
SeeChange Health Insurance will offer 14 preferred provider (PPO) plans throughout Colorado including three compatible with Health Savings Accounts (HSAs). These policies are available only to small businesses of 50 or fewer employees through licensed, independent brokers. SeeChange Health anticipates being able to offer coverage to larger groups in the near future.
"Colorado is a state that appreciates the importance of health and fitness. SeeChange Health's focus on wellness, prevention and early detection is a great fit with the people and culture of the state," noted Katz.
About SeeChange Health
SeeChange Health delivers plans, technology and services aimed at creating better health and quality of life for employees, increasing workforce productivity, and lowering health care costs by encouraging individuals to play an active role in managing their health to prevent, detect and treat serious health conditions. Its SeeChange Health Insurance division provides value-based benefit plans to fully insured employer groups in California and Colorado. The SeeChange Health Solutions division provides consumer engagement and health incentive technology platforms to employers, health plans and third party administrators delivering the cost-controlling advantages of value-based benefit plans. For more information, visit www.SeeChangeHealth.com.
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SOURCE SeeChange Health