Any large-scale action on retirement reform will require trust, a willingness to take risk and experiment, and a sense of the greater good.
Cost-shifting to employees is less utilized.
Providers, namely hospitals and large regional health care systems, are increasingly being asked by payers to accept at-risk reimbursement, where payment is heavily influenced by the quality and outcome of patient care.
Mercer notes that employers were able to contain these costs without enrolling more employees into high-deductible plans.
HealthMine says its findings are relevant to the increased use of account-based health plans, which include health savings accounts (HSAs) and health reimbursement accounts (HRAs), and increase plan participant responsibility for cost management.
A report from the NIRS argues how DB plans create more savings and retirement income for teachers than DC plans.
But, self-funding health insurance is becoming more popular as a way to cut costs, United Benefit Advisors finds.
More than half of Millennials struggle to pay their doctors’ bills or have an acquaintance who does.
A study shows consumers might not understand health savings accounts as well as they believe.
Social Security and Supplemental Security Income recipients will see a 2% increase next year—the largest increase since 2012.
Survey results indicate that 67% of Americans reported at least one chronic health condition.
The youngest employees especially feel unprepared to decide what plan they should choose, according to a survey from Aflac.
Respondents to a survey from Mercer reported preferences for policies to mitigate costs.
The latest study from the Segal Group includes plan sponsors’ picks for the top five cost-management strategies.
Of the HSAs with distributions, the average amount distributed was less than the average contribution, resulting in balance increases, EBRI finds.
Employers are looking at various cost-controlling strategies such as partnering with Centers of Excellence and offering telemedicine services.
Seventy-nine percent of employees indicate they have experienced an increase in health care costs, and of those, 63% say they are reducing the amount they are saving for retirement, a survey finds.
Health savings accounts are seen as a valuable tool for covering health care costs in retirement.
“Adding deductibles, copays, hearing, vision, and dental cost sharing, the number grows to $607,662 in future dollars,” the research states.
Well-being programs are generally well received by employees and employers are enhancing these offerings to drive employee engagement and stay ahead of the competition.