As anyone responsible for their company’s Employee Benefits program knows well, healthcare spending has been consistently on the rise in recent decades. While a number of factors play a role in further increasing these costs, such as inflation or the current global pandemic, most employers are interested in cutting to the chase and looking toward strategies to help reduce the impact to their benefits budget.
Check out this article for more detail on these 5 strategies you can use to reduce health benefit costs for your company in 2022. Which of these strategies are you familiar with? How many of these strategies do you currently use?
5 Strategies for Reducing Health Benefits Costs in 2022
- Control Drug Spending: Employee Education & Tiered Drug Coverage
- Encourage Active Benefits Participation: Health Literacy & “Shopping Around”
- Offer Savings Accounts with Carryovers: Empowering Employees with Tax-Advantage Savings Accounts
- Embrace Virtual Health Options: Expanding Access to Care
- Consider Plan Funding Alternatives: Is a Self-Funded or Level-Funded Arrangement Right For You?
Call us today to talk about creative solutions to improve your employee benefits program!