In an uncertain labor market and economy, employers can usually bet on healthcare prices consistently increasing each year. But what if it’s possible for employers to escape a seemingly inescapable trend?
According to consulting firm Willis Towers Watson, health plan costs are expected to increase by over 6% in 2024 — 2022 and 2023 saw similar price hikes, making it clear that healthcare wouldn’t become more affordable in the wake of a global pandemic. And yet, Nebraska Furniture Mart (NFM) managed to save $5 million in health plan costs in 2022 alone. After NFM partnered with Centivo, a health plan provider for self-funded employers, the company moved away from the traditional care model for its 5,000 employees. Instead, it focused on curating a network of healthcare providers that had shown evidence of having the best health outcomes at the best prices.
