Employers Seek Alternative Solutions to Solve Rising Benefit Plan Costs
Rising prices for benefit plans have employers considering creative solutions to lower healthcare expenses. According to the Kaiser Family Foundation, annual family premiums for employer-sponsored health insurance rose 4 percent to average $21,342 in 2020. The cost of health benefits continues to increase year over year with no signs of stopping. With these increases, what should employers do to protect their bottom line?
In his recent article, Jim Blanchek – co-founder of The Benefits Group – encourages employers who are unhappy with their benefits plan to implement alternative solutions before their renewal date. According to Blanchek, there are countless opportunities for growth hiding in your benefits plan, and there’s no need to wait another year to unlock them.
“There are countless opportunities for growth hiding in your benefits plan, and there’s no need to wait another year to unlock them.”
With an expensive market, the fear of employers has become reality: expensive health plans with minimal benefits have sent their workforce searching for employment opportunities with better benefits. The Center for American Progress claims that losing just five mid-level employees in a single year can easily cost an employer $50,000. To increase employee retention, employers are looking for alternative solutions that help contain their healthcare costs.
One of the popular solutions available is Direct Primary Care (DPC). By providing membership for a flat monthly fee, DPC eliminates all traditional fee-for-service claims that would be collected for an employee’s primary care. DPC saves money and encourages healthy living by ensuring a patient-physician relationship that is no longer affected by billing codes.
As an integrated DPC organization, Healthcare2U provides members with affordable and unlimited access to primary care services, chronic disease management, and 24/7/365 telehealth. Besides our outstanding service to our members, another differentiator between Healthcare2U and other DPC organizations is our footprint across the United States.
If you are a benefits broker looking for ideas to help your groups, contact Healthcare2U today. We offer our integrated DPC solution to employers of all sizes, large or small. Whether your clients are self-funded, fully insured or looking for a valuable Minimal Essential Coverage option – we can help you meet their needs today.
If you’re interested in learning more about our Direct Primary Care solution to include all our products, email us at firstname.lastname@example.org or call us directly at (512) 900-8900.
**Content updated May 7, 2021
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