X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The cost of health care in the United States has a reputation for being expensive, and deservedly so. According to a study by the Peterson and Kaiser Foundations, the United States spent more than $3.8 trillion on health care in 2019, and it will soon top $4 trillion.  Employers feel that they’re held captive to annually escalating health plan benefit costs, and employees continue to see their share of premiums and out of pocket costs continue to increase at a higher pace than inflation and their paycheck.

Faced with this reality, as well as a future that promises even higher health care costs, current and prospective employees will value companies that have their health-related interests in mind. This is especially true following 2020 and the lingering impact of the coronavirus pandemic. Having an attractive health plan could mean the difference between retaining or losing top talent.

We’re here to report that it’s not all doom and gloom. Benefits advisors can help employers offer great, and even improved, health plan benefits to their employees, often at reduced costs, by breaking out of the box defined by traditional health plans. The trick is finding solutions that provide flexibility. Here are five cost levers advisors and employers can explore right now to offer employees improved benefits while also keeping costs in check.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.