Thanks to the folks at Fierce Healthcare pointed out this one. The Columbus Business First reports that a group of Columbus, OH physicians are exploring organizing their own health insurance company as a means of getting control of rising health insurance costs.
Well, maybe. If association health plans had been approved, this would be less of an issue. But that isn’t going very far. Now, the practices could use HSAs and fund the very high deductibles, rather than dumping this burden on their employees. In the same way that high deductibles cut your auto and homeowner’s premiums, the same can work for health insurance. It may pay to simply pay claims as they occur, and buy a high deductible policy or a stop-loss policy.
I wonder whether a smart broker could put together a program to make it easy for practices to buy this kind of option. There’s a market opportunity here, but getting into the insurance business…….it’s not a great business to be in.