A new company will focus on technological solutions to provide coverage for U.S. employees at a lower cost.
As companies move to insurance plans with high deductibles, employees will shoulder more out-of-pocket costs.
As employees know all too well, health insurance companies have one surefire way to lower costs: Ask their customers to pay more.
Intermountain Healthcare, a nonprofit health system in Salt Lake City, is trying something virtually unheard-of: promising to sharply cut costs rather than pass them on.
Its new health plan, SelectHealth Share, is guaranteeing to hold yearly rate increases to one-third to one-half less than what many employers across the country typically face.
While health care costs have been rising more slowly in recent years than they have in decades, they continue to outpace inflation, Mr. Fontanetta said. Employers are thinking hard about what steps they can take to reduce their exposure, he said, at a time when health care is changing rapidly. “The current time period represents a watershed moment for employers.”
Employers are giving employees incentives to shop for the right care at the right price, without sacrificing necessary care when money is tight. It’s a tough balance, but employers appear to be grappling with it very seriously, and it’s costing them.
If the purpose behind health insurance is to attract and retain employees, and the employer is spending tens or hundreds of thousands of dollars, it is absolutely something that should be actively managed.
Framing our problem in terms of "costs" is a misrepresentation of the real challenge -- how to slow the increase in spending.
Our bloated health care system, Mr. Buffett asserted, is the true barrier to America’s world competitiveness as well as “the single biggest variable where we keep getting more and more out of whack with the rest of the world.”
There are many contributing factors to rising health care costs – many of which an employer can’t control. However, there are things employers can do to help minimize what they pay to provide health care to their workers.
Health care costs have increased three times faster than wages over the past decade, putting a strain on government resources, and employer and family budgets. Rising costs to finance Medicare, Medicaid and other public health programs are major contributors to the long-term fiscal challenges facing federal and state governments and centerpieces of today’s debate on proposals to reduce the deficit and cut government spending.
Helping nearly 10M employees, plan members and patients better understand their health, optimize their benefits, address critical care gaps, and improve health outcomes while helping to lower the cost of care.
Collective Health is creating the health insurance experience we all want and deserve. We’re starting by fixing what’s broken for US employers, who bear the brunt of most of our country’s private healthcare costs.
Founded in 2011, Grand Rounds provides an employer-based solution that gives employees and their families the technology, information and support they need to make life’s most critical choices—whether and where to receive medical treatment. The fastest way for employers to curb healthcare costs without cutting corners, Grand Rounds delivers enhanced patient outcomes and engagement to groups ranging from 1,000-member firms to Fortune 50 employers.
We relieve the pain of company health plan and benefits decisions. Save money and deliver better outcomes for everyone.
Whether you're an employer, payer or provider, or work in the public sector, OptumHealth can help meet your unique needs. Let us help you find the fully integrated program or stand-alone service that works best for you or your members.