About DAKOTACARE Freedom
In today’s world we are no stranger to the discussion of the rising cost of health care. With the advent of health care reform changes in 2014, employers are seeking options to continue to offer their employees’ quality health coverage. The idea behind the DAKOTACARE Freedom eMarket is to curb some of the adverse effects rising costs have on local businesses.
Simply put, the DAKOTACARE Freedom eMarket is the protection of group coverage that is completely individual. It uses a defined contribution model meaning, the employer has the opportunity to set a specific dollar amount to allocate to each employee. With this set dollar, each employee has the opportunity to shop for coverage that is suitable to them or their families. This allows each employee to personalize their coverage, deductibles, coinsurance, and pharmacy benefits, among other things. Each member will pay the difference between the cost of their coverage and their employer’s contribution. For the employer, this sets a relatively concrete budget that can remain consistent through the rising cost of health coverage. This also gives the business an opportunity to hand the reigns of healthcare over to their DAKOTACARE agent and their own employees, freeing their hands of many decisions associated with choosing a health plan.
So what does this mean for a member? Members will use the eMarket platform to select the level of coverage best for them. This will be done by shopping online in the eMarket. Enrollment is easy and can be completed in three short steps.
Even after the upcoming 2014 Health Care Reform changes, the DAKOTACARE Freedom eMarket will serve as a powerful tool for businesses to take advantage of. Other states have adopted similar platforms and solutions but this is the first product of its kind offered in South Dakota.