4 ways to lower out-of-pocket healthcare costs

Published 2 Min Read

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Healthcare prices are only going up in the U.S., forcing more Americans to avoid care altogether or risk medical debt. However, employers can make a difference, just by implementing small-scale changes. 

The U.S. has one of the highest costs of healthcare in the world, with total spend climbing to $4.3 trillion and total medical debt at nearly $200 billion. For many employers, reducing healthcare costs in the U.S. system seems like nothing short of a herculean task — but it’s a necessary one if they want a successful business, underlines Becky Seefeldt, vice president of strategy at Benefit Resource, a pre-tax benefits administration company. 

Employees should at least have access to information via their health plans that shows them the price difference between generic versus brand name products, notes Seefeldt. Employees should know where to find the comparisons and be encouraged to ask their doctors whether the generic medication can work for them.

Read more: Leaders from PepsiCo, AECOM and SAP share their best benefits strategies

Deanna Cuadra
Senior Reporter

Deanna Cuadra is a senior reporter at Employee Benefit News. Her work covers healthcare, U.S. policy and reform, challenges faced by women and parents in the workplace and innovation in work culture … Read full bio


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