An employee healthcare plan must be affordable before it will be effective. Unfortunately, many firms find that despite offering healthcare to employees, there’s a low rate of uptake and utilization. Some employees may be unable to afford their share of the plan premium, deductibles, or copays, leaving them longing for health support but turning down the plan. Others pay for benefits they never use, so they believe they are overpaying and resent the plan.
The solution may lie in a different healthcare plan design. One-size-fits-all healthcare plans are increasingly unaffordable for many employees as premiums increase. New models, like income-based cost sharing, segmented plans, and virtual care can offer organizations the chance to support a healthy workforce with a more affordable health plan.
Costs Down and Accessibility Up
The global insurance company WTW analyzed healthcare trends and found the top issue was healthcare affordability. Inflation has driven healthcare prices up 73%, and low wage workers and workers with chronic conditions feel that increase most intensely. For a healthcare plan to work, it therefore needs to address both the needs of the workforce and the associated costs of care.
Login Here