Out-of-pocket costs can be a pain in the budget for many employees.
Health savings accounts have traditionally offered employees some relief, but many employees don’t have the means to adequately pre-fund their HSA. That’s why employers are increasingly turning to supplemental medical insurance to fill gaps and provide a solution that works for all employees.
Managing rising deductibles
The percentage of Americans in high-deductible health plans has skyrocketed in recent years, with more than 50 million Americans currently enrolled in these plans. As more employers migrate to high-deductible options, employee participation in those plans is growing exponentially.
Not surprisingly, employees’ out-of-pockets costs are rising as well. Over the past five years, employee responsibility for deductibles, co-pays and co-insurance has increased. Deductibles alone have increased a whopping 86% in this time frame.
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