It is clear that healthcare benefits are a burning issue with the healthcare reform legislation on the House floor today for a vote.
What’s so concerning for us in the industry: why is no one asking why we pay so much and have no correlation with the level of quality in the US healthcare system?
Healthcare cost for most employers is second to payroll. Employers offer health insurance for several reasons:
1. To remain competitive as an employer, to attract and retain talent to run their business.
2. Healthcare benefits (today) remain a tax deduction to employers. This helps with the cost analysis.
3. Absenteeism within the disability programs have a direct correlation and employers need a healthy workforce that is present to run their business.
National surveys show employers remain confident to continue offering healthcare benefits for at least the next 5 years in almost all the survey data nationally. With 55 million millennials in the workforce today, the importance of data and decision support tools coupled with the consumerism is changing the face of how and what we offer employees today in employer-sponsored health care benefits packages.
Employers are struggling with the cost of healthcare benefits and new technology. New resources to empower employees and their families to make better healthcare decisions are the prevailing thought in our industry today. Some companies have even done things like put mandatory second opinions prior to authorizing surgery and limiting coverage for those who don’t follow that process. It is clear that employers are facing more and more challenges with offering health care benefits today than ever before.