Have you ever had a feeling that something is off with your health plan, but can’t quite identify what it is? 

We often sense that something is amiss-costs rise, benefits diminish, and employees grow frustrated with the entire process. As an employer, health plans represent a significant expense in our budget, yet they’re a source of widespread dissatisfaction. This situation reminds me of the adage, “No good deed goes unpunished.” 

From my point of view, ignorance is bliss. Amid various challenges, we’d like to believe that our vendors are looking out for our best interests. However, once I delved into the intricacies, I began to understand the misaligned incentives and factors driving up costs. It’s truly endless.  

Consider if this sounds familiar: “After a year of high claims, we managed to reduce a potential 25% increase down to just 10%.” Discussions often revolve around deductibles and copays, or suggestions to limit the network. 1 deposit casino canada.com Yet, none of these measures address the core issues as significantly as prescription costs, inflated hospital charges, or maximum out-of-pocket expenses do on the overall risk. 

Our industry is plagued with misaligned incentives and a profound lack of transparency, despite legislative efforts to uncover the hidden aspects. It’s not surprising that even our legislators struggle to find solutions when some of the brightest minds in our country, such as those behind the short-lived Haven Healthcare initiative by Amazon, JP Morgan, and Berkshire Hathaway, have failed. 

The silver lining is that with understanding, small adjustments can lead to substantial improvements. Through my “Benefits Blindspot” series, we highlight actionable strategies almost any employer can implement immediately. 

At HUB International, we concentrate on key areas like cost containment, pharmacy management, and eligibility rules, understanding that not every strategy suits every employer. If you’re tired of recurring issues, lack of substantial data, and frequent carrier changes, it might be time to explore why our focal points are crucial. 

It’s possible to devise better plans at lower costs. A bit of preparation now can prevent considerable frustration at renewal time. Let us demonstrate the possibilities. 

I’ll be conducting a “Benefits 101” webinar on May 21st at 8 AM as part of HRTampa.org and my “Benefits Blindspots” series. You can register here: https://www.hrtampa.org/events/EventDetails.aspx?id=1846554&group= 

Dennis Hartin Risk and Benefits Advisor [email protected]