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New Survey Shows Client Service Tools Change Health Care Consumer Behavior

Posted on: Wednesday, 1 February 2006, 09:00 CST

A new study shows that consumer driven health care combined with comprehensive client advisory service tools creates both a market incentive and a means to change behavior of individual consumers. According to the study conducted by Bergen Networks this past September, clients of HealthEquity(R), Inc., a leader in complete consumer driven health coverage solutions, are more likely to feel healthier and be knowledgeable about their health savings accounts (HSAs) than clients of other consumer driven health care plans.

Health savings accounts are tax-advantaged accounts that are paired with qualified high deductible health plans. These accounts are used to pay day-to-day medical expenses, while the high-deductible plan pays for the costs of major medical events.

"Most benefits consultants, employers, and industry experts agree that one of the keys to making consumerism and health savings accounts in health care work is intensive education and support to help people better save and spend their health care account dollars," remarks Stephen Neeleman, CEO of HealthEquity. "We believe that the Bergen study validates our approach of providing mission critical client advisory services to our clients."

The comprehensive study of the health care industry and consumer driven health care, including 453 consumer driven health care customers, 149 of which were HealthEquity clients, concluded that:

-- More than half, 55 percent, of HealthEquity clients state they feel healthier than the general population. Only 44 percent of clients in other consumer-driven health plans felt the same.

-- HealthEquity clients were the only group in the study in which the majority of respondents did not think they were over weight.

-- Almost 66 percent of HealthEquity clients exercise.

-- HealthEquity's clients are more likely to ask about generic alternatives and treatment costs than clients in other consumer-driven health plans (31 percent vs. 21 percent).

-- The majority of HealthEquity clients, 58 percent, ask about the cost of medical treatments and tests.

-- Sixty-six percent of our clients feel educated about using their HSA. This number was less than half with the other vendors surveyed.

-- Fifty-four percent of HealthEquity clients believe their HSAs are growing, compared to 37 percent in other HSA plans.

HealthEquity clients may feel better educated and be smarter health care shoppers than clients in other HSA and consumer driven health care programs because of their access to client advisory services. Moving to consumer-driven health plans introduce clients to a level of health care consumerism that most have never been exposed to. While many HSA providers leave their clients adrift with only banking services to accompany their HSA, every HealthEquity HSA comes with a suite of client advisory service tools to help their make the most of their health care. These services include self-diagnostic tools, an online medical library, a 24-hour nurse line, Rx substitution comparisons, a 24-hour client advisory service line, and bill review and negotiation.

Full survey results available upon request.

About HealthEquity(R), Inc.

HealthEquity offers a complete solution for businesses and individuals that are seeking a consumer driven health plan. HealthEquity specializes in offering health care accounts, such as health savings accounts, supplemented with unparalleled health care financial services and client advisory tools. These tools give clients the support they need to navigate the health care system and make wise spending decisions. HealthEquity offers our consumer-driven solution as a stand alone product and as an integrated product through our business partners. HealthEquity manages consumer-driven plans for over 800 employer groups nationwide.

For more information about HealthEquity, please visit www.HealthEquity.com.

Source: Business Wire

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