In Parts One and Two of this series, we examined several key factors contributing to the higher costs employers must pay to offer health benefits to employees, and outlined a practical four-step process that they can use to help contain those increases. In this final installment, we examine the important role benefits advisors can play in helping employers effectively drive down the cost of health benefits.
Since the pandemic, U.S. employers have faced a barrage of challenges, including structuring cost-effective, yet competitive health benefits to help attract and retain talent.
Fortunately, experienced benefits advisors can be an important ally for employers in the constant struggle to offer competitive health benefits at a cost that’s palatable and sustainable. What specific support and solutions can a seasoned benefits advisor offer that can help provide value, improve risk management, lead to better outcomes, and lower costs?
Use this checklist to become more familiar with the key ways your advisor can help turn current benefits challenges into cost-saving opportunities.
To help employers uncover issues in employee populations that may contribute to higher costs, experienced benefits advisors can help:
To help employers offer an expanded array of flexible benefits, experienced benefits advisors can often:
In addition, advisors can share insights about how technology solutions can facilitate the delivery of benefits. For instance, when AI-enabled communication is paired with claims data, it can send automated messages to direct employee behaviors away from using more expensive healthcare delivery sites and toward more cost-efficient ones to help lower costs.
To help employers adopt different strategies to contain costs and manage expectations when care is needed, benefits advisors can help you:
To help employers assess what’s working, what’s not, and how to adjust and move forward, benefits advisors can:
Employee benefits advisors can play a proactive role in guiding employers through the entire process of benefits discovery, planning, implementation, and evaluation. An advisor’s responsibility is to help ensure that your benefits program remains effective, competitive, and aligned with the needs of both the organization and its employees.
Backed by a full team of highly specialized professionals, including trained clinicians, our benefits advisors can help analyze and leverage tools and techniques, broaden optics into the health conditions and behaviors of employees, identify costly trends, and share actionable steps that can help employers contain costs.
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