The 500, 000 member and $45 billion Colorado Public Employees Retirement Association (PERA) is offering retirees in the pre-Medicare program a new hip and knee replacement benefit option called PERA Care Select. For most pre-Medicare retirees enrolled in an Anthem plan, there will be no out-of-pocket cost or co-pays associated with either of these procedures, according to PR Newswire, which reported on the development.
More than 10, 000 retirees are eligible for the program. The benefit is available at five health care facilities through a partnership with HealthONE facilities that is offering the procedures at a fixed price. The typical total cost of a hip or knee replacement can vary by as much as $40, 000 within the state of Colorado.
According to the PR Newswire writer, there is no direct correlation between cost and quality. “Most recent studies have found that the association between cost and quality is moderate, and that there is no clear indication if that association is positive or negative.” the author wrote.
“We all need to work together to crack the code on cost confusion while delivering high quality, cost-effective health care, ” said Gregory W. Smith, executive director and CEO of PERA. “The new PERACare Select benefit for hips and knees allows Colorado PERA retirees to become better consumers and advocates of their own health care, which improves the patient experience and saves money for both the patient and the overall health care system.”
A Mayo Clinic study revealed that more than seven million people in the U.S. are presently living with a hip or knee replacement. Researchers expect this number will increase greatly as the population ages.
Colorado PERA provides retirement and benefits to more than 529, 000 individuals. HealthONE is the largest healthcare system in the metro Denver area with more than 10, 000 employees.
