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Power of Choice

Can managed competition lower health-care costs?

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This story appears in the November 2005 issue of Entrepreneur. Subscribe »

Looking for a way to give employees health-care options while trimming your company's costs? In a growing number of states, small companies can now opt for greater flexibility and lower-cost health benefits through "managed competition."

How does it work? Essentially, employers choose--and pay for--a set of streamlined plans with fixed employer and employee contribution amounts. Employees choose from among these plans; those who want greater coverage may also select add-on options offered by multiple providers.

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