The newly launched IHT World LLC was created in an effort to counter the high costs of health care by offering custom packages for employer self-funded plans and using medical tourism and the Patient Protection and Affordable Care Act to help businesses cut their health care costs.
IHT World helps employees travel outside of the U.S. for nonemergency medical treatments where the quality of care is at least equal to that of the U.S. but the cost is much lower, the company says.
The combined medical costs, rehabilitation expenses, and travel fees for the patient and a travel companion are much less than the cost of the procedure in the United States, IHT World maintains. In the case of knee replacement surgery, for example, an employer could save approximately $15,000 on each procedure.
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According to a PPACA provision, the premium rebate for a health insurance company should be at least 80 percent to 85 percent of premiums collected for health care treatment; however, if the insurance company does not meet the government mandate, the insured group could qualify for an yearly rebate from the insurance company. IHT World believes this could result in significant savings for both employees and employers.
"If American quality treatment is available, without the crushing prices, why wouldn't you consider such a choice?" says IHT World President and Managing Director Pam Brammann. "When employers are presented with this new concept, especially businesses with employer self-funded plans, they are amazed that IHT World can significantly reduce their health care reimbursement costs without compromising quality."
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