Employers anticipate healthcare benefits costs will rise 5% next year - Fierce Healthcare
This article by Leslie Small for Fierce Healthcare discusses what employers are doing to counter the predicted 5%.
Jack Craver writes for Benefits Pro about a new report from the Society of Human Resource Management that displays the effect that rising healthcare costs has had on employers and employees.
Read the full original article from Benefits Pro.
Craver notes that "the cost of providing health coverage to the average U.S. employee rose nearly $500 over the past year" which means "employers are now spending an average of $8,669 annually for each worker they cover." This eats up, on average, 7.6% of employer budgets. Some employers are opting to shift out-of-pocket costs to employees, who feel like healthcare costs are so out of control that they honestly cannot afford coverage.
Employers can avoiding cost-shifting without giving up more of their budgets to healthcare benefits with an innovative new healthcare model, partial self-insurance. In fact, employers who switch to partial self-insurance with Nonstop Wellness save a baseline of 12.5% on healthcare spend. Learn more in Nonstop's Quick Guide to Partial Self-Insurance:
