Program Offers Members Cash Incentives for Selection of Quality, Lower-Cost Providers
Prices for the same quality medical services can differ by thousands of dollars across health care providers within the same region and health plan network – sometimes as much as 300-500 percent. Blue Cross and Blue Shield of New Mexico introduced Member Rewards, a new tool to help consumers better navigate their health care experience and provide them incentives for making smart decisions, which may also help reduce medical costs for themselves and their employers.
"Consumers may not be used to the idea of shopping for health care or be aware of the potential benefits of just a few minutes of research. But given the benefits and rewards consumers can achieve, we should move to a mentality where we shop for health care just like we do for other products," said Lynn Weeks, Senior Director of Major and National Sales and Accounts. "By pairing the right transparency tools to compare costs with a meaningful financial incentive for our members, we can empower them to be smart consumers of care and potentially help lower costs for themselves and their employers."
Available to self-funded large employers across New Mexico, this new program offers a cash reward when a quality, lower-cost provider is selected from several possibilities for the same medical service or procedure, such as MRI, mammogram or hip replacement. Member Rewards, powered and administered by Vitals, leverages Provider Finder®, HCSC's nationwide database of independently contracted health care providers, as well as Benefits Value Advisor, a live health care member advocate, to help consumers:
- compare costs and quality for numerous procedures
- estimate out-of-pocket costs
- earn cash while shopping for care
- save money and make the most efficient use of their health care benefits, and
- consider treatment decisions with their primary doctors.
Once members complete the procedure, they'll receive any financial reward they earn within weeks. The cash reward can vary from $25 - $500 and depends on the care being performed and the difference in cost compared with other options. These benefits for the consumer are, in turn, passed on to employers, as lower-cost providers reduce their overall cost of care.
Ranges may change based on geography and account claims.
HCSC makes no endorsement, representation or warranty regarding Vitals' administration of the Member Rewards program. Information received through the Member Rewards program is not meant to replace advice of a health care professional, and decisions regarding course and place of treatment remain with the member and his or her health care provider. Eligibility for rewards is subject to terms and conditions of the Member Rewards program.