It’s an improvement…it’s a way to save money…it’s not new but it is inno­v­a­tive.  The Cal PERS board has vot­ed to move the 50,000 peo­ple enrolled in their PERS Select non Medicare plan to a Val­ue Based Insur­ance Design (VBID) plan that will save the pro­gram over $3 mil­lion a year on par­tic­i­pant pre­mi­ums and $10 mil­lion to the sys­tem over­all (it’s inter­est­ing to notice that they esti­mate sav­ings of 3 x the pre­mi­um val­ue but are not giv­ing it all back to the participants)