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The healthcare market is constantly undergoing shifts. One of the most recent and forward-looking of these shifts is the trend towards remote healthcare via virtual health and telemedicine. Soon, it will be making health insurance more convenient and — hopefully — less expensive for both you and your employees.
It's becoming more and more clear that we need to lower the cost of healthcare across the board. What's being done now often amounts to shifting around costs. Either the patient pays more out of pocket, the health insurance provider takes on more liability, or the employer bears an ever-increasing burden. Many employers view this as a problem that is ultimately outside of their control, but this is the wrong way to look at things. You can and should be proactive, but first, you need a clearer picture of what's going on.
Ask any employee what their most desired benefit is. Nine times out of ten, the answer will be health insurance. Employees feel like they need it, and they will gladly turn down any job offer that doesn't include it as a benefit. As healthcare costs continuing to rise this puts employers in an awkward position. How do you provide insurance for employees while keeping costs in check?
We know all too well that healthcare costs are rising — but it isn't all bad news. The demand for reduced costs and better performance is leading to a lot of innovation. Right now, the healthcare industry is full of exciting trends and new ideas, and concierge healthcare is one of these. So, here's what you need to know about concierge healthcare.
Businesses don't typically operate solely out of benevolence. Sure, having a passion for quality service is one aspect of running a successful operation but success in the business world is often defined by the bottom line, and that's where things can get dicey. There's absolutely nothing wrong with wanting to turn a profit, but doing so at the expensive of those you serve is a different issue altogether.
Amazon and Comcast have been in the news recently, but not for their own products or services. No, instead they are being recognized for taking some action to combat the runaway healthcare costs that many businesses are dealing with. What exactly is it that these large companies are doing and how can your business learn from this?
Renewing your health plan is something you have to do every year. It's something that is absolutely essential for most businesses. Employers love health insurance and the way it can attract new talent like a magnet. Employees love the peace of mind that it gives them and in many cases rely on it to continue living with an acceptable quality of life.
It's time for a break from all of the bad news about rising health care costs and outrageous drug prices. According to a new study from the Employee Benefit Research Institute, the percentage of employers offering health insurance has risen. While we still aren't back to where we were in 2008, it's nice to see the decade long downward trend in employers offering health insurance reverse course. Now, let's dig into the details.
In an effort to save money on health insurance costs, many employers are turning to medical savings accounts. These accounts allow employees and employers to deposit tax-deferred contributions that can later be used to pay for certain medical expenses. These accounts can be classified as either health savings accounts (HSA) or flexible spending accounts (FSA). So, what are the differences between these two types of medical savings accounts?
What do you do when it seems like the cards are stacked against you? The answer, it seems, is to innovate. For many businesses and employees the stagnant field of healthcare is beginning to look a little less like a field and a little more like a swamp. Legislative change happens at a glacial pace and when it does happen the changes often seems erratic and unpredictable. So how are some of these businesses choosing to innovate?
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