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Self-insured employers have more leverage than they think

Negotiating fair prices from providers and lower spending for employers requires a strategy beyond reference-based pricing.

By Lawrence Thompson | February 19, 2020 at 10:13 AM
Crowdfunding concept. An all-encompassing price reduction strategy that includes data tools and fostering strong provider relationships will yield consistent and sustainable cost savings. (Photo: Shutterstock)

More Americans are delaying much-needed medical care due to high costs, potentially putting themselves at risk of more serious complications while doing little to solve the problem of soaring health care benefits costs for themselves or their employers.

A December 2019 Gallup survey revealed that 33 percent of Americans delayed treatment for a medical condition because of costs in the past year, up from 19 percent about two decades ago. Despite this disturbing trend, health care prices are still climbing. Accordingly, large employers expect their health care benefit costs to rise 5 percent in 2020 to a total cost of $15,375 per employee, according to survey results from the Business Group on Health.

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