Given today’s economy, many employers face tough decisions. While reducing the workforce brings the largest savings to an employer’s bottom line, most organizations see this as the least desirable outcome. To prevent labor reductions, other cost-saving measurements are being implemented, and this often impacts an employer’s benefits package.
In fact, as the economy remains slow, 87 percent of employers say today’s financial climate has influenced their benefits decisions, and 73 percent of employers say they expect employees to pay more toward their benefits in the coming year, according to the 2012 Benefits Selling Employer Survey.
Along with becoming better consumers, employers are implementing CDHPs to help employees take more responsibility for their health, Fay adds. Similar to consumerism, employees become more aware of how their health impacts their personal finances under CDHPs. When an employee has greater financial consequences because of poor health, they’re more likely to practice healthy habits.
[See "Five things a consumer looks for in an insurer"]