However, while 71% of employers see a positive impact on company health benefit costs from wellness programs, more than one-third say they do not offer these programs, the Transamerica Center for Health Studies found.
Tag: employer health benefit costs
More midsize and large employers are foregoing the short-term savings offered by cost-shifting and turning to strategies addressing care delivery and health management, Mercer finds.
“Employers can now identify opportunities to develop local provider strategies that improve quality and lower costs,” says Todor Penev, with Aon.
Employers also plan to enhance their wellbeing programs and include initiatives that reduce the impact of chronic diseases on employees, Willis Towers Watson finds.
Mercer projects that health benefit cost per employee will rise by 4.1% on average in 2019, down from 6.5% and 5.3% in previous years.
More than half of employers (52%) believe virtual care will play a significant role in how health care is delivered in the future, while 43% believe artificial intelligence will play a major role, according to a survey.
Selecting the "wrong plan" may cause employees to pay more without getting more coverage or benefits in return,” HSA Bank says, and Chad Wilkins, president of HSA Bank, points out it could cost employers as well.
“Employers can help workers most at risk better manage their care—and save an average $430 annually per employee,” Mercer says.
Also being considered is legislation for expanding benefits of HSAs.
A team of experts will review claim data and provide actionable insight into an employer's health care spend, with the objective of helping employers identify and realize cost saving opportunities.
Dave Chase, co-founder of Health Rosetta, says three questions address three big problems in health care: pricing failure, overtreatment and a crazy amount of administrative burden.
Case studies show how using pay-for-value strategies, improving quality of care efforts, personalized experiences and embracing disruption are providing cost savings for employers and employees alike.
Employers are introducing more convenient and high-quality health care options.
A company of 10,000 employees could realize savings of more than $22 million annually by implementing a broad set of effective strategies and practices, according to Willis Towers Watson.
The effective date of the excise tax on high-cost health plans is now in 2022.
Modifying the definition of employer for these plans will help employers reduce health benefit administrative costs through economies of scale, the Department of Labor says.
The National Business Group on Health sees more traction in value purchasing, increasing employee consumerism and increasing employee engagement in resources offered to them.
Among large employers, those Gallagher identifies as best-in-class use proactive planning to spend less, while best-in-class mid-size employers rein in costs without shifting the burden to employees.