When you make the move to a self-insured model, health care starts to feel a lot more like other parts of your business. (Photo: Shutterstock)
Benefits are typically the largest expense item in a company's budget next to payroll. Traditionally, managing the benefits budget hasn't been like managing other business expenses, as employers have had little to no transparency into these costs. While most employers would be averse to accepting annual increases of 10 or 15 percent on other business expenses, they have never been able to apply the same level of scrutiny to their health care spend.
But things are changing. As health care spending continues to rise, maintaining the status quo is simply no longer an option. Fortunately, action steps similar to those you'd take in other parts of your organization are available for your health plan.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
