While Washington continues to grapple with sweeping health insurance changes, employers are trying to control their health plan costs. An annual challenge: cost versus value Regardless of size or industry, employers annually review strategies and products as they seek new ways to control health care costs. If premiums for their current plan are rising, employers may be tempted to switch to a less costly plan for the coming year. This short-term view may help balance the budget, but may not effectively address the challenge of reducing health care costs. It may actually cost employers more in the long run. overall health of an employee population is key to not only lowering employers’ health care spending, and having a more engaged and productive workforce. This can’t happen in one, short 12-month cycle. Employers must be willing to take a multiyear approach to address the problem and make a long-term investment in their employee base. This investment can produce a sizable return. Here are some things to consider: Chronic disease taking a heavy toll According to the CDC, 86% percent of the nation’s $2.7 trillion annual health care spending is for those people with chronic and mental health conditions. This includes treating… Read full this story
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