Rates for the majority of GuideStone Financial Resources’ PPO medical plan participants will decrease for 2006, with improved benefits to be provided for preventive care and other services.
The rates and improved benefits were approved by the trustees of the Southern Baptist entity during their Aug. 1-2 meeting in Orlando, Fla.
“Fifty-seven percent of our Personal Plans participants will actually see a decrease in their medical plan rates, and this is on top of the 40 percent that received rate decreases last year,” said GuideStone President O.S. Hawkins. “But what is really gratifying is that while we’re making our wellness and other benefits even better.”
For 2005, GuideStone changed to the Blue Cross Blue Shield network as its single preferred provider network. This allowed GuideStone and its participants to take advantage of the nation’s largest provider network and its lower negotiated provider rates.
During a time when medical inflation is averaging 12 to 14 percent according to industry surveys, there will be no medical inflation-based rate increase for participants in GuideStone’s Personal Plans for the second year in a row. Some individuals will see a slight increase of 2 to 6 percent in their monthly rates as they move into a new age range.
Wellness- and preventive-care benefits for GuideStone’s PPO medical plans will be enhanced for 2006 to include more eligible services.
The $250 annual benefit limit for preventative-care services will also be removed, and eligible preventive-care services will be covered at 100 percent after the office visit co-pay.
Other benefit improvements for 2006 include specialist physician co-pays for all plans, easier to understand prescription-drug benefits and expanded eligibility for dependents up to age 25 who are not full-time students. A new high deductible health plan with an accompanying Health Savings Account option also will be available.
In order to incorporate the benefits of the new Medicare prescription-drug legislation, GuideStone’s Medicare supplement plans will change for 2006.
By taking advantage of the new Medicare prescription-drug subsidy, GuideStone will be able to reduce rates for all Medicare supplement plan participants while improving their benefits.
(BP)
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