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# Strategizing Your Waiting Periods and Benefit Classes
*June 3, 2024*
In the realm of employee benefits, waiting periods and benefit classes play a critical role in shaping the effectiveness and affordability of health insurance plans. Waiting periods refer to the duration of time an employee must wait before becoming eligible for coverage under their employer’s health insurance plan. This period can vary depending on the employer’s policies and the type of plan offered. Typically, waiting periods range from 30 to 90 days, although some employers may impose no waiting period at all, activating benefits on the date of hire.
Benefit classes, on the other hand, categorize employees based on factors such as full-time or part-time status, job classification, or length of employment. These classes often determine the level of benefits employees receive and the corresponding premiums they pay. By strategically defining benefit classes, HR professionals can tailor health insurance plans to meet the diverse needs of their workforce while managing costs effectively.
HR can employ several strategic approaches when deciding on waiting periods and benefit classes. First, they can analyze workforce demographics and employee preferences to determine optimal waiting periods and benefit class structures that balance employee needs with cost containment. HR can also leverage waiting periods strategically to mitigate adverse selection by discouraging employees from joining the plan solely when they need medical care. Lastly, HR can use benefit classes to offer different levels of coverage to different employee groups, ensuring fairness and equity while optimizing cost-effectiveness.
Ultimately, HR’s strategic decisions regarding waiting periods and benefit classes can significantly impact employee satisfaction, retention, and the overall financial health of the organization. By carefully considering these parameters, HR professionals can design health insurance plans that not only attract and retain top talent but also contribute to the company’s long-term success.
If you would like to explore these components of your benefits strategy or have questions about this information, please reach out to our team at Silberman Group.
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# Parkridge Health System to replace CHI Memorial in BCBST Network S
*May 8, 2024*
As you may have already heard, BlueCross BlueShield of Tennessee has selected Parkridge Health System to replace CHI Memorial as the provider partner alongside Erlanger for Blue Network S in Chattanooga as of July 1, 2024.
Parkridge Health System provides almost every service CHI Memorial offers – including cardiology and oncology – along with some that Memorial doesn’t offer, such as adult and pediatric psychiatric care, obstetrics, and freestanding emergency care. Parkridge facilities also cover more of the Greater Chattanooga area, providing more convenient options for in-network care.
You can get all the details this means for BCBST Network S members here and at BCBSTnetworkupdates.com.
It’s important to know that regardless of this decision, you can continue to see your CHI Memorial-employed doctors. BCBST has made the decision to keep paying for their members’ care from CHI Memorial’s doctors at current rates. This means members can continue to see their current doctor without any added cost from BCBST.
If you’re a BCBST member and see a CHI Memorial doctor (including those at the Chattanooga Heart Institute), BCBST will:
• Process the claim based on your in-network benefits. That means you’ll get the lower copays, deductibles and out-of-pocket costs you would for seeing any other in-network doctor – instead of paying higher out-of-network costs.
• Pay the doctor based on the in-network rates in today’s contract, which are already competitive for the Chattanooga market. That’s also better for them, as reimbursements are lower for out-of-network providers.
However, it is possible that CommonSpirit (CHI Memorial) could choose to balance bill members.
If you have ongoing services scheduled at a CHI Memorial facility after June 30, the care team from BCBST will work with you to help make sure you continue to receive appropriate care from an in-network health care provider. And members in specific circumstances, like those getting cancer treatment or in the second trimester of pregnancy, can be granted in-network status to keep that care at a CHI Memorial facility for a period of time.
The BCBST customer service and care teams are available to help make sure members don’t experience disruptions in care. Members with questions can reach out at the telephone number on their Member ID card for support.
Reach out to your SG benefits consultant and/or dedicated account manager if you have questions.
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