Five Critical Criteria used to compare California carriers.
1. Health Plan pricing in the market. Ultimately, benefits need to be priced well relative to other similar plans on the market. Also, the plans have to make sense financially in today’s world of ever-increasing cost. Some large multi-line carriers like Principle offer extremely rich benefits that have completely priced themselves out of the market. There’s a “sweet spot” where plan design meets the consumer’s budget and that has to be a given when choosing a plan. Interestingly enough, this pricing value is driven by a carriers ability to do well in the following other areas so let’s take a look at them. More information on the major carriers in the California market.
2. Extensive provider network for HMO and PPO. A carrier needs to have as many doctors and hospital in all major areas participate in their HMO and PPO networks. The more the better. This is especially true for PPO plans which is the direction the market is ultimately heading as costs escalate. This is primarily a function of how many subscribers the carrier can bring to the bargaining table with medical...
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