Posted on Feb 15, 2019 12:12:05 PM by Tracey Moran
The cost of healthcare continues to rise. In fact, “healthcare benefit costs are still rising at two times the rate of wage increases and three times general inflation, making this trend unaffordable and unsustainable over the long term," according to a recent publication by the Society of Human Resource Management (SHRM). “The total cost of healthcare, including premiums and out-of-pocket costs for employees and dependents, is estimated to average $14,800 per employee in 2019, up from $14,099 this year.”
This is the bad news. The good news is employers are learning there are actionable steps they can take to reduce the rising costs of healthcare.
Posted on Nov 28, 2018 1:34:00 PM by Dave Demers, MPH, VP of analytics and business intelligence
Self-funding for healthcare benefits comes with risks and benefits. While your organization gains program control, flexibility in plan design, and more predictability in costs, you’re at greater risk for high cost claims, specifically from cancers and musculoskeletal conditions. If you’re wondering how to manage this issue, you’re not alone. A recent Mercer survey revealed that “managing high cost claimants is the top benefits strategy U.S. employers will be focusing on for the next five years.”