As we enter 2013, healthcare costs continue to increase. The situation is putting a lot of pressure on employers and employees alike.
According to USA Today, the insurance premium for an average American individual is more than $4,000 annually, and more than $9,000 per year for a family! Medical coverage is by far the most expensive benefit offered to employees. This high (and growing) price tag often comes as a result of the cost of surgical care—which makes up more than 30% of a company’s total healthcare budget.
American workers are shouldering more and more of the financial burden when it comes to healthcare. They’re experiencing larger deductibles, increased co-insurance, and some are being forced into high-deductible health plans. Both companies and their employees must recognize the need to participate in healthcare decisions.
The advent of supplemental benefit offerings—like surgery benefit management programs—has allowed many companies to lower their total healthcare expenditure. It also allows for reduced out-of-pocket expense for employees. Could supplemental benefit plans be the answer to managing healthcare costs in America?