According to a recent Kaiser/HRET survey of Employer-Sponsored Health Benefits, health care costs have tripled over the last twenty years. Almost every year, health insurance premiums keep going up. There are many factors involved in this long-term trend. A primary cause is that no one knows what anything costs before they receive care. Health care is the only industry in our country where the consumer doesn’t know the cost of goods & services at the time of purchase. It’s after expenses are incurred and the insurance claim is processed that we get the information on what it cost. Up-front transparency is the most basic need for solving this problem. Until we all start paying attention to the underlying cost of each claim, health insurance premiums aren’t going to get any cheaper.
Did you know that every health care provider gets paid something different for the same service within the same network? Wouldn’t it be beneficial to provide your employees with both quality ratings & costs for providers in their area? Such transparency will enable your employees to make better decisions so they can use the best providers at a fair price. Technology has advanced to a stage that makes it possible to have access to this information. There are resources available today that provide support at the time your people are planning for a hip replacement or a colonoscopy so that the buying decision is so much smarter than it has ever been. Employee communication & education is a crucial component to getting control over the never-ending cycle of increasing Health Insurance costs.
Kost Consulting is Here to Help
Our company can help your organization realize lower health care costs, lower employee contributions and increased employer profitability. For the last twenty-two years, we have assisted many Northeast Ohio companies in realizing these kinds of results.
Fill out our contact form, email or call us at 330-356-0082 to schedule a free consultation today!
Mike Kost, Owner of Kost Consulting, customizes each employee benefit package to meet the employer needs. He negotiates with carriers and third party administrators to develop the best value available while providing the highest level of personalized service to each client.