When employers pay higher premiums and their employees pay higher deductibles, insurance companies and large brokers make more money. As premiums go up, insurers have higher margins and brokers make more commission. In other words, their interests are fundamentally misaligned with their customers’ interests.
Employer-sponsored health benefit costs are projected to rise by 7.2% in 2020 according to the latest global survey by Willis Towers Watson. The conclusion? “Cost increases continue to outpace inflation and remain unsustainable, making affordability a challenge for employers and employees alike.”
Benefixa gives companies the information and tools they need to actually manage their health care costs – rather than have to blindly accept automatic annual increases. Our NextGen strategies allow companies to treat health care benefits as a supply chain that can be broken up, optimized and managed. The result is equal or even better health care with no added risk at substantially lower cost. And the savings realized can be used to better compensate employees and/or go straight to the bottom line.
– Drew Altman | President & CEO | Kaiser Family Foundation