Total Team Solutions Blog

Decreasing Medical Premiums

By: John Morlock

NEW SOLUTIONS FOR REDUCING HEALTHCARE COSTS

 

With healthcare costs continuing to rise, employers are looking for new strategies to control to help them control costs.  These include the following:

·        Price transparency tools that allow employees to compare the prices for medical services and products online so they can choose the least costly option.  On average, this decreases the employer’s cost by $409 per procedure and saves the employee $173 per procedure.

·        Wellness incentives reward employees for participating in wellness plans the promote healthier lifestyles that tend to reduce medical plan expenses.  Rewards include health premium discounts, contributions into the employee’s Health Savings Account and Health Reimbursement Arrangements to reduce office visit copays.

·        Spousal surcharges for employees who elect spousal coverage when their spouse could elect coverage elsewhere.  Approximately 25% of employers have adopted this practice with the amounts of the surcharges averaging $152 per month.

 

For more information on how your company could adopt these practices to reduce your healthcare costs, contact John Morlock at jmorlock@ttspro.com or 1-800-836-9678, ext. 5.

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