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In an era in which employers increasingly are having to shift more health-care costs onto employees, IBM (NYSE: IBM) is taking the unprecedented tack of opting to pick up all expenses related to primary care for U.S.-based employees, beginning next year. In doing so, IBM is is among the first U.S. companies to cover primary care at 100%, the Armonk, N.Y.-based computing giant said Thursday.The move means employees will not be subject to co-pays or deductibles for in-network primary care with their internist, general or family practitioner, pediatrician or primary osteopath. IBM said it was able to boost coverage due to the company's success in implementing wellness programs, an effort begun five years ago.
"As a result of our focus on wellness and primary care, IBM employees have become healthier and our costs are rising more slowly," said Randy MacDonald, senior vice president of human resources in a statement. The new benefit will apply to all IBM-self insured medical plans, which include PPO, PPO Plus and EPO options and currently cover about 80% of all U.S.-based employees, Big Blue said.
A self-insured plan is one in which health costs are borne by the employer, with an insurance company acting as an administrator. IBM noted that other employees participate in HMO plans, which typically provide most, but not all, preventive and primary services at low or no cost.
Employees will still contribute a share of premium costs, IBM said.
IBM also said it's introducing a new wellness incentive "to encourage changes in lifestyle to build energy, better health and vitality" through the implementation of rebates of $150, one of five such incentives IBM offers U.S.-based workers. Employees who participate in initiatives, which promote mental, physical and emotional well-being, receive the rebates upon completion of select programs.
Employees can chose any two rebates to receive up to $300 in cash a year, IBM said.
Shares of IBM, a component of the Dow Jones industrial average ($INDU), were fractionally lower in pre-market trading at about 8 a.m. ET Friday to $122.50 a share.
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Reader Comments (Page 1 of 1)
10-30-2009 @ 1:23PM
gatso27 said...
IBM is and was always a good company. I tried to get a job with them three times many years ago. Ended up working with NCR computers.
I never paid one dime for health care. I was blessed with good health, like most of you are.or were. When l had a desk job l would play tennis every weekend. When it rained we would play basketball in a local college gym. If l got sick l payed out of pocket. It was far cheaper then paying monthly payments for something l did not need. Yes, l know about the what if questions.
With this new health care bill that congress is trying to push through these young adults are getting screwed into paying for something that most of them do not need. What if again.
Being an ex military man l did not even think about going to the VA until many years later. Now that l am retired l go to the VA every six months for a check up. I have medicare for a back up. If l visit my local doctor once every two years that is a lot for me.
I remember when Jerry Brown was runing for Governor of Cailfornia again. A lady asked him about health care and he said something like this, " Lady you eat all kinds of junk foods, let yourself get heavy and out of shape and now you want us to take care of you."