Health insurance costs are on the rise, causing many companies to expect their employees to pay more out-of-pocket costs to cover high deductibles in 2017. In the recent article written by Rachel Emma Silverman, she states:
“Deductibles will be a pain point for many employees. For the first time, more than half of workers—51%— have a deductible of more than $1,000 for a plan covering a single person, compared with 46% last year, according the Kaiser/HRET survey.”
One of the reasons why people are facing these drastic increases is because many companies are not aware of all the possibilities available to help reduce the costs of employee benefits. This results in the employers getting a huge price increase because of the losses taken by major insurance companies.
In order to help lower these expenses for the company, many are shifting the burden on employees. This includes asking employees to seek less-expensive and cover the difference between generic and brand medicine prices. Additionally, many companies are seeking various innovative solutions including telemedicine, which allows for employees to seek medical consultation through video or phone.
Don’t just settle on placing these high costs on your employees to maintain a healthy balance sheet. Call BCR today to access all the possibilities to help reduce the extreme costs of employee benefits.
Read the full article, Employers Shift Higher Health-Care Costs to Workers, from the Wall Street Journal for more information.