The latest in health benefits offered by Minnesota both large and small employers and maybe the wave of the future is implementing a “Defined Contribution” plan for their employees. This defined contribution plan allows employers to offer a plan that meets the needs of their employees, while keeping costs in check.
No one plan fits all, employers need to controll costs. Defining their contribution to a fixed dollar amount and letting employees choose between 3 or even 12 different plans may make alot of sense in today’s market of rapidly increasing costs.
More about this topic will be discused in detail and coming soon the mandated implemtation of both “Public Health Insurance Exchange” and competing “Private Exchange”