This editorial piece by Merrill Goozner, editor of Modern Healthcare, looks at the challenges of rising healthcare costs, and how those rising costs impact employees' spending in other ways.
Read the full original article from Modern Healthcare.
Goozner notes the famed Rand study on how when people have more financial responsibility for their healthcare, they cut back on necessary services. Employers can help employees afford healthcare and other necessary expenses by reducing or completely eliminating out-of-pocket expenses with Nonstop Wellness, an innovative healthcare program that can save employers a baseline of 12.5% on healthcare spend. Learn more now in the Nonprofit Executive's Guide to Partial Self-Insurance:
The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. In accordance with IRS Circular 230, this communication is not intended or written to be used, and cannot be used as or considered a ‘covered opinion’ or other written tax advice and should not be relied upon for any purpose other than its intended purpose