We all know successful companies continually recruit the best talent to give themselves a competitive edge. Making employees feel valued, understood, and cared for is integral to retaining top-notch talent, and savvy employers work with knowledgeable brokers to build benefit packages to do just that.

Health plans are evolving, and many employers are shifting the financial burden to their employees, often in the form of high deductible health plans (HDHPs). The best brokers teach employer clients how to take a HDHP and incorporate solutions that deliver real value to their employees. This education also includes showing them which solutions make quality health care more accessible.

Explaining first-dollar coverage

For years, large companies with deep pockets offered first-dollar benefits that made health care expenses more economical for workers. As margins narrowed in a volatile economy, corporations, as well as smaller to mid-sized companies, were forced to make difficult decisions and get creative to offer valuable health benefits.

First-dollar benefits are payable by a health or medical insurance plan without the member or insured incurring an upfront cost, most commonly in the form of a deductible. PPO and HMO plans often offer first-dollar in-network benefits with low copays and no deductibles to steer members to participating providers. Ever-increasing premiums and first-dollar benefits are often responsible for the spike in medical costs. Thus, HDHPs evolved to remedy these issues by adding a deductible upfront to plan designs.

Protecting profits at the expense of employees

As the cost of health care escalates, employers of all sizes are compelled to protect their earnings. HSAs were created to set money aside for employees to affordably access day-to-day care. If employees do not maximize the HSA funding, there is a higher out-of-pocket expense because the plan's deductible must be met prior to coverage. Because of the lack of HSA funding, HDHPs often create a plan too expensive to utilize.