The question of cost versus value is always a difficult one when it comes to choosing a health plan offering. During the pandemic, the need to balance low costs with the benefits and coverage employees need has become even more pressing. By using our small group health plan comparison chart, you’ll be able to guide your clients to make the right decision for their company and employees.
Determining the value of a plan
This comparison chart of Massachusetts’ top small group health plans is part of a quarterly series we release each time health plan carriers update their benefits and plan details. While the chart is primarily focused on cost sharing, there are several other factors to consider when deciding a plan’s overall value, especially in light of the pandemic.
Important considerations include:
- Unique benefits: During the COVID-19 crisis, many health plans are offering benefits around telemedicine and behavioral health. These are key to providing employees with access to care and resources that will help them look after their physical and mental wellbeing.
- Network access: Access to high-quality providers and specialists is important when it comes to making employees feel confident they can get the care they need, when they need it.
- Cost sharing: While keeping costs down is ideal during this time of economic uncertainty, it’s also important to take the above factors into consideration. If the above needs aren’t being met by a health plan with lower costs, it may be time to rethink that offering.
We hope this chart will help you and your clients decide how premiums, network access, and benefits come together to determine the total value of a plan.
How to use this chart
The plans included in the comparison chart are grouped according to their metallic tier and listed from lowest to highest premiums. For each plan you’ll find cost sharing information for commonly used services like PCP visits, urgent and emergency care, prescription drugs, and more, along with the plan’s deductible. We’ve also included other popular benefits, like fitness and weight loss, and some of the unique features of the plan.
Don’t see a plan your client is interested in? It’s easy to add new rows and fill in the plan’s information or add new columns to compare features beyond the basics we’ve provided.
By using this worksheet as a starting point for your own comparisons, you’ll be able to identify key plan differences for your clients or your business. Visit our health plan comparison page to download your copy today and subscribe to AllWays Insider to stay updated when a new chart is released for 2021.