Although the use of healthcare services continues to decline, the privately insured are spending more on healthcare every year, according to the latest report from the Health Care Cost Institute. While spending went up in all major service categories between 2013 and 2014, the report found,the largest contributor to the cost increase was brand prescriptions.
Let's face it: Rising pharmaceutical costs have both you and your employees checking your couch cushions and car seats for every last penny. Against this backdrop, perhaps no trend has been quite as frustrating as the explosion of compounded drugs. Despite the drugs' apparent efficacy, their exorbitant price tag made them difficult to swallow.
With rising healthcare costs now outpacing wage increases across most of the country, the pressure to reduce benefits spending has arguably never been greater. In an effort to drive down costs, employers are now seeking solace in an option that would have been unimaginable just a few years ago: telemedicine.
Some employers tackle the cost-benefit ratio of employee health plans by opting for higher deductibles or switching to providers with lower coverage options. At KelseyCare, we've long known that the real key to creating both reliable and affordable health insurance is implementing wellness programs around the office. After all, what determines whether or not your workforce needs insurance — and for how much they can be expected to pay for it — is rooted entirely in employee health.
In this day and age, potential employees are looking to get different things out of their careers. Common sentiments expressed among younger people entering the workforce are flexibility and telecommuting, often just as important as a paycheck. However, as an employer, you will need to create a healthcare plan that appeals and works for the greatest number of your employees.
Does your company spend too much money on employee healthcare costs? Some businesses are trying to increase office fitness levels to benefit the bottom line. A growing body of scientific evidence suggests that even small increases in regular exercise can significantly improve morale and physical wellness.
Chronic diseases such as obesity can be a major factor when it comes to rising costs. Obesity and the complications that come with it cost employers billions of dollars each year in health insurance claims, with even more money lost to absenteeism and reduced productivity.
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The Kelsey-Seybold DifferenceLower Costs on Group Health Insurance, Big Benefits for Small Business
At Kelsey-Seybold, we understand different businesses have different needs. We deliver long-term health benefits solutions for Houston employers through several leading partners. Our health plans offer as its core provider network and accountable care partner – the nation’s first NCQA-accredited Accountable Care Organization, Kelsey-Seybold Clinic.