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WellPoint Announces Reference Based Benefits Program

06/26/2013

WellPoint, Inc. announced an initiative today called reference based benefits, in which employers can choose to set a maximum price they will pay for certain medical services. The health insurer has partnered with Castlight Health, Inc., a software company that will provide an online tool that employees can use to research information on providers and their prices. The program will launch in the first quarter of 2014.

WellPoint will offer reference based benefits to employers with at least 100 workers. The companies can tailor the program to their needs and decide what services will be subject to the initiative. If employees choose a provider that charges more than the reference price, they will pay the difference. If employees decide on a cheaper option, they may receive money back from their company, according to the Wall Street Journal.

The WellPoint news release is available here.

-Tim Casey

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