Despite pushes for change in Congress, it looks like the ACA is still at the top of the list for people. With solid medical benefits and cheaper premiums, this controversial program will keep people covered, but with only the basic essentials. More and more, employer health seems to be the way to go if you want both comprehensive coverage while still maintaining a budget.
The healthcare system seems to bring out a new update every month. It can get confusing to anyone that’s just started. Let’s take a look at what you can expect.
Besides the standard HRA improvements, there are more interesting changes to be aware of for the future. Here’s a couple we’ve found:
Accountable Care Organizations
These networks were created to foster cooperation in the healthcare system. Through building a “team” of sorts, hospitals, doctors, and specialists can provide a smooth transition through the system for the patients.
This is great news to watch for as an employer. Check with your group health plan to see if there’s a network near you to highlight for your employees. The easier you can make it for them to get well again, the better.
Virtual Care
Programs like Teledoc are growing in popularity. It’s no wonder considering their ease of use. Why go to a doctor’s office and deal with their wait times, prices, and discomfort when you can just pick up your phone for the same services? See if the plans you offer your employees include these services.
Of course, this won’t cover every case. However, rising at-home services could lead to improvements in our medical system. If you have something simple like the flu, and just need prescription medication to get well, then virtual care is a great fit. Think of how this can alleviate crowded doctor’s offices. In addition, the spread of germs would decrease as ill people can stay in the comfort of their own homes.
A 6% Premium Rise
Estimated premium increases are about 6% across the board. While some larger companies are implementing cost management adjustments (These tactics reduce their projected cost.), it still will only reduce the overall budget increase to 5%.
Statistically, the smaller to midsize businesses pay a bit more than their larger counterparts for the same benefits because they simply don’t have the clout to bargain prices down. These businesses do have the option of turning to consumer-directed health plans (CDHPs) to help out.
CDHPs are high-deductible health plans that are linked to either an HSA or an HRA. However, it’s projected that employers will reduce the number of employees covered by these CDHPs because employees have stated they’d rather have a choice for their benefits, meaning they’ll turn to other alternatives like a preferred provider organization (PPO).
With so many changes coming, it can be hard to see where your best choices lie in purchasing a new Group Health plan. While you can see the reasoning for it, the ultimate decision for your business needs to be a tailored fit. That way, you get the best coverage options for your workforce while still meeting your budget.
If you want to get the best coverage for your company, EZ.Insure offers solutions. Your personalized agent will answer any questions you have, compare the plans available to you, and even sign you up when you are ready, free of charge. To get started simply enter your zip code in the bar above, or you can speak to an agent by emailing [email protected], or calling 888-998-2027. EZ.Insure makes the entire process simple, easy, and quick.