This article by Leslie Small for Fierce Healthcare discusses what employers are doing to counter the predicted 5% increase in heathcare benefits costs over the next year.
Read the full original article from Fierce Healthcare.
"In 2018, large U.S. employers expect healthcare benefits costs will rise 5% for the fifth consecutive year—and in response, many companies are getting creative with their cost-control efforts." Some strategies include managing the administration of high-cost medicines, building outcome-based pricing into purchasing agreements for specialty drugs, and implementing programs to manage the impact of manufacturer coupons.
One strategy not noted in the article, but that can save small- to mid-size employers a baseline of 12.5% on healthcare spend, is an innovative model called partial self-insurance. While larger companies have had the ability to self-fund health insurance for years, partial self-insurance opens up the option to smaller organizations. Download our Quick Guide to Partial Self-Insurance to learn more:
