Leap Health’s Post

In 2024, employers are caught in the delicate balance of controlling healthcare costs while still investing in their workforce. According to Aon's latest survey, the top priorities for companies include: - Cost Management: Expect an 8% hike in healthcare costs. Employers are tackling this with strategic plan designs and tighter prescription drug management. - Investing in Talent: Benefits are pivotal for attracting and retaining talent. - Pharmacy Innovations: Pharmacy design changes are leading the charge to balance access and affordability. Navigating these trends requires a balance of innovation and strategy. Let’s keep the conversation going on how to best support our teams in 2024 and beyond! https://lnkd.in/gNyr-HD6

Interesting read and its' what most in the industry are expecting. Having stated this, the next 2-3 years will be a very different experience and reality for Employers, Carriers, TPA's, Health Systems, providers and consumers. The following macro market dynamics, outside of high prices, will drive this change. Some of these dynamics are: * Provider shortage and access issues (getting worse) * Consumer out-of-pocket an all-time high * Collections an all-time high for providers * A huge pipeline of specialty drugs being released at top cost * The population becoming older and less-healthy * The adoption of virtual care still relatively low * Health systems closing their doors in rural areas * No real/true pricing transparency being used or enforced * FFS still the majority of spend in healthcare * Still around 25-30% true waste or misuse in healthcare * Navigation to the right providers at the right cost still used by few Most would be worried about this, and for good reason, but I see lots of opportunity for young organizations, or existing ones, to transform their current strategies into real winning strategies. A very exciting time to be a leader in healthcare and working to solve these real problems and opportunities with your teams. I have have the good fortune to meet dedicated healthcare workers, in all areas of the business, that want to work for organizations focused on real change, solid core values and a mission that is remarkable. Again, a great time to make a difference in healthcare from all sides. Ken Goulet John Lufburrow Henry Loubet Cynthia Hundorfean, EMBA https://lnkd.in/eDCuMj8d

One of Enrichly HR core value pillars is improving #Diversity and #Equity in #benefits, after all #DEI should NOT end at your benefits plan. This article from Cigna Healthcare emphasizes this essential trend. #employers join our next webinar (Register here: https://lnkd.in/ej4JmXdX) to learn more and how you hold the keys to unlocking better, more equitable benefits programs.

As we have all seen different solutions to the same old problem (from FSA/HSA's to the ACA, until now we just haven't had the solution (in my humble legal opinion). And then come #EnrichlyHR (the smartest guys I know!) Equitable #employeebenefits for your #employees, and fair cost to #employers, with choices (final a three legged stool that balances! Adn to show they are the smartest guys out there, they include all 6 of the ERISA required #legaldocuments customized by actual #attorneys from #myhrcounsel. So #legalcompliant, with choices and #equity - don't miss reaching out to #EnrichlyHR and finally solve the #employeebenefits conundrum

Learn how ICHRA is changing the game in personalized benefits. With over 800,000 employers adopting personalized plans, it's reshaping the healthcare landscape and delivering savings of over 20% for both employers and employees. #BenefitsTrends #PeronalizedBenefits #EmployeeBenefits #BenefitsPlanning https://lnkd.in/exrRu6eC

A recent Mercer survey of nearly 700 organizations reveals a significant rise in per-employee healthcare costs, yet companies are holding the line on benefits for 2025. Discover why specialized coverage and alternative cost strategies are gaining traction. Click here to know more: https://rb.gy/5t1nqy #EmployeeBenefits #HealthcareCosts #HRStrategy #HRTechPulse

Employers expect health benefit costs per employee to rise 5.4% on average next year, according to preliminary findings released last week from consulting firm Mercer’s 2023 national survey of employer-sponsored health plans. Knowing employees will feel this rise in costs as well, more companies should consider the benefits of offering CDH solutions to help offset those costs, and pushing the value during this enrollment cycle!

"...DEI should NOT end at your benefits plan" our CEO Michael Pires dropping #facts. Unfortunately, most benefits plans do exactly that and lack adaptability and consideration for the needs of #diversetalent and a #diverseworkforce. #employers join us to learn how to change that (Upcoming Webinar: https://lnkd.in/e_DXWpd2)

While the cost of healthcare benefits is rising, employers still recognize the importance of addressing employees’ needs. If you’re struggling to provide top-tier, affordable health benefits, consider working with a professional employer organization. Check out this guide to HR outsourcing to learn more: https://lnkd.in/eiZZG8AS. #EmployeeBenefits #HealthInsurance #HRThatMakesADifference https://lnkd.in/e9y-Vt-p

These are three simple ways to drive down healthcare costs. Which in all reality seem to echo many of my past posts. 1. Steerage and Incentives Engagement, Education and Empowerment of employees for a better understanding of their healthcare benefits. Knowledge IS power. The more the employee knows and given the tools to learn they will save money for themselves and the company at the same time. 2. Taking Control of Pharmacy Spend Pharmacy spend is becoming a bigger and bigger share of the total claims spend for a company. There are ways to help not only the company save but the employees save on the Pharmacy costs. 3. Focus on Demand Healthcare over utilization is not a thing. Why? Healthcare cost too much. People are putting off services. We need to focus on healthy lifestyles and physical, mental and financial wellbeing. Your benefit consultant should be on top of this for your company. Fun fact: Equinox has been doing this for our clients for years. #equinoxbenefits #riskmanagement #engage #educate #empower #funfact