Medical Mutual Aims to Control Cost of Common Lab Tests

CLEVELAND--()--A new benefit from Medical Mutual will help customers save money on common lab tests, which can vary widely in cost among healthcare providers despite little difference in service or quality.

“As healthcare choices and costs shift to consumers, a benefit like Coverage Maximum can save our members money, besides controlling the costs of these widely used lab tests,’’ said Medical Mutual Chairman, President and CEO Rick Chiricosta.”

Starting January 1, 2016, Medical Mutual will introduce Coverage Maximum, a pilot program designed to control costs of 40 basic lab tests. The program is the first of its kind in Ohio and will be rolled out to Medical Mutual customers in the Ohio Public Employees Retirement System retiree health plan, along with Medical Mutual employees.

“As healthcare choices and costs shift to consumers, a benefit like Coverage Maximum can save our members money, besides controlling the costs of these widely used lab tests,’’ said Medical Mutual Chairman, President and CEO Rick Chiricosta.

The program works like this: Lab tests will be covered up to a certain price, known as the Coverage Maximum. If a provider’s rate is at or below the Coverage Maximum, customers pay normal, out-of-pocket costs. But, if the rate is above the Coverage Maximum, users will also pay the difference, and the extra cost won’t apply to their deductibles.

Medical Mutual customers in the program will need to do some checking to make sure that Coverage Maximums apply to their lab tests. They should talk with their doctors and check My Care Compare, the cost-comparison tool available through My Health Plan, which is the secure member website on Medmutual.com. A majority of Medical Mutual’s lab providers currently have rates below the Coverage Maximums, and they are listed on My Care Compare.

About Medical Mutual of Ohio Founded in 1934, Medical Mutual of Ohio is the oldest and largest health insurance company based in Ohio. For more than 80 years, the company has served customers with high-quality, affordable group and personal health insurance plans, and third-party administrative services to self-insured group customers. As a mutual health insurance company, Medical Mutual is unique in that it operates for the benefit of its members. Unlike publicly-traded insurance companies that must maximize their financial return, Medical Mutual does not answer to stockholders or Wall Street analysts. For more information, visit the company’s award-winning website at MedMutual.com.

Contacts

Medical Mutual
Tom Breckenridge, Corporate Communications, 216-687-7176
tom.breckenridge@medmutual.com

Recent Stories

RSS feed for Medical Mutual