Employers will continue to need comprehensive strategies to offset rising costs of health insurance premiums and medical claims. This often means promoting health care consumerism by transitioning to high deductible health plans and providing supplemental insurance or funding such as health savings accounts, health reimbursement arrangements, and deductible wrap insurance that help employees pay their increased out of pocket expenses.
Consumer-driven health plans will also continue to rise as employers invoke ways to reduce their exposure to the 2018 excise tax and reduce their overall benefits costs. These plans work best however, when employees are delivered strong decision assistance at enrollment so that they can understand how their benefits will function and how to utilize cost-effective health care services and providers.
Being an informed consumer in healthcare is no different and no less important than the approach many consumers use for other purchases.
Evaluate your health insurance policy like you would when shopping for automobile insurance. Understand what it covers, how much it costs, what your deductibles are, and where you can go if a claim occurs to save yourself money in out of pocket costs.
Shopping around at different healthcare facilities for procedures and services is no different than bargain shopping for your groceries or any other household item. Consumer driven research, before “buying” can result in lower costs to the employee, the insurance carrier, and eventually the employer.