Rising health care costs rank as a top financial challenge for CFOs.
According to the latest Buyers Study from Unum, 84 percent of CFOs say health costs are their largest expense pressure, and, Unum reports, this "influence on pricing can decrease the ability to compete in the global marketplace."
In response to rising costs, employers took these actions in 2010:
- Nearly 50 percent of all employers increased employee contributions
- About one-third increased deductibles
- Only 19 percent offered HMOs, a drop from 33 percent in 2001
- Many offered more health management initiatives:
- Nearly two-thirds of employers that measured the ROI of their health management programs say they're satisfied with the year-over-year savings, lower utilization rates or improved health risks.
Among employers offering wellness incentives:
- 69 percent offer health risk assessments
- 73 percent offer disease management programs
- 50 percent offer behavior modification programs
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