Almost every employer wants to reduce, or at least control the cost of their health care plan. Do any of these statements sound familiar?
- “Your health plan is going up by 12% this year.”
- “Trend is 8% to 12%.”
- “It’s not too bad this year. It’s only 7%.”
- “I’m sorry. It’s really ugly this year…”
We’ve come to accept that the cost of health care is going to go up pretty much every year. Sometimes there’s not much that can be done to change that, but sometimes…often enough…there are effective creative options available…if an employer is willing to explore some different ideas.
Here are four questions for your CFO or CEO that might help you decide if your company might be a candidate for more creative health plan design:
1. What are you currently spending per year per employee on health care (PEPY)?
2. What would you like your PEPY spend to be?
3. How soon would you like to get to that number?
4. How much noise are you willing to endure to get there?
“Noise” can happen when something is different. Different doesn’t mean “bad” or “worse,” but it does mean different. Some different solutions can result in lower cost AND better outcomes, but they require making changes. If a CEO or CFO truly wants to start to get control of health care costs, and possibly bend the cost curve, looking into some new, creative ideas might be worth consideration.
If you’d like to learn about creative options to control your health care costs, we are running a series of webinars and seminars to share this information. Give us a call at (866) 724-0008 or click the link below.