In the US today, six out of ten employees believe their share of medical costs will increase next year, and 54% of employees say they experience anxiety about health care costs that are not covered. In a recent survey, more than half of the American employee population felt they couldn’t pay $1,000 or more for out-of-pocket expenses without relying on debt or credit if a serious illness or accident occurred. When the average individual who gets insurance at work has a deductible of $1664, most people are one health issue away from racking up medical debt.
These factors together create a fundamental problem for employers — employees don’t trust their benefits because they aren’t completely shielded from financial strain and stress with the plans they’re offered today.
