Value Based Insurance Design Consortium
Public Comment Sought for Value-Based Insurance Design Manuals
The SIM PMO and Office of the State Comptroller (OSC) have released updated versions of the Value-Based Insurance Design (VBID) templates previously designed in 2016. The updated templates streamline the recommendations of the VBID Consortium, a multi-stakeholder group that met in early 2016 to develop templates for health insurance plans with VBID components, such as reduced cost sharing for chronic condition management. In order to support Connecticut employers in implementing VBID plans for their employees, the PMO and OSC worked with a consultant, Freedman Healthcare, to develop both VBID templates and implementation manuals. Based on feedback from employers over the past year, the templates have been updated to increase usability and ultimately encourage the update of VBID plans in Connecticut.
Value-based insurance design (V-BID) is an innovative insurance strategy that seeks to improve health and control rising health care costs by promoting the use of high value services and providers through consumer incentives. High-value services are those that have a strong evidence-base, enhance clinical outcomes, and increase efficiency. V-BID plans utilize “clinical nuance”, a concept that recognizes that medical services differ in the benefit provided, and that the clinical benefit derived from a specific service depends on the patient using it, as well as when, where, and by whom the service is provided. The aim of V-BID is to increase healthcare quality and use healthcare dollars more effectively by implementing differential cost sharing for consumers to promote use of high value services and providers, and decrease use of low value services.
Click below to access the manuals:
Instruction for Providing Comment
- Written comments, questions, and concerns regarding these recommendations may be submitted until September 17, 2017 to the SIM Program Management Office at email@example.com.
- When submitting correspondence, please reference "VBID Manual" in the subject line.
- If you are providing comments on behalf of an organization, please include the organization's name and your contact information.
- If you are commenting as an individual, please include your contact information.
Content Last Modified on 8/17/2017 3:12:36 PM