Primary concern for employers is managing the economic impacts of inflation and providing employees the benefits they need to withstand rough economic times. Many employers have adopted specific practices that address health care utilization and offer benefits plans that attract and retain high quality employees.
Preferred Provider Organization (PPO) plans are growing in popularity, as companies look to remove as many barriers to primary care as possible, according to the 2023 Healthcare and Employee Benefits Benchmarking Report. To contrast, high-deductible health plans (HDHP's) have declined in popularity. With a lower monthly premium and a higher deductible, the survey found only 29% of participants offer HDHP's.
As pharmacy prices follow the upward rising trend, more than half of employer respondents confirmed that they offer four or more tiers within their pharmacy plans. The survey noted that the vast majority of plans (87%) do not cover "new" drug therapies.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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.