As healthcare costs continue to rise, many Americans struggle to make the best use of their employee benefits. Because navigating the healthcare system is so complex, many employees do not take full advantage of their benefits or use them in the most cost-effective ways. What can employers do to change this? We recently sat down with Kelly Dixon of CBIZ Employee Benefits to find out. Read on to learn more and be sure to check out the episode to hear more.
Prescriptions and ER visits are major cost drivers
When it comes to employee health care costs, prescription drug benefits are one of the most costly components of an insurance plan. Thanks to the costs associated with specialty drugs and Pharmacy Benefits Managers (PBM), the costs for needed drugs can be prohibitive. So what can employers do to ease this burden? Kelly emphasized the importance of shopping around for the best PBM for your company. Your business should establish an advisor team to help you secure the best plan for your employees to help keep costs low.
Another major factor on healthcare costs is ER visits. Kelly outlined how a trip to the ER can cost $1100 while it would only cost $180 to have the same issue resolved at an urgent care center. This means it’s important for employers to encourage employees to change their behavior to rely less on the ER and utilize urgent care centers instead.
Take advantage of technology
One of the most effective ways to influence your employees health care costs is through education and the smart use of technology. First, your advisor team should meet with employees at least quarterly to educate them on using their benefits. In addition, adopting mobile apps such as Teledoc or Healthiest You can change employee behavior by helping them use their benefits in the most cost-effective way. These apps can be customized for the specific needs of your employees and can go a long way in keeping them healthier and wealthier.
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