As healthcare renewals hit employers’ desks, few will be surprised to find yet another increase — projected to be 7% for 2024, but much, much higher for smaller to mid-sized employers. As it has for years, news of these rate hikes is typically followed by the usual questions: How will we afford this? Should we shop our plan? Do we need to cost-shift to employees? If so, how do we tell them they’re effectively getting yet another pay cut — as we have seemingly every open enrollment meeting year after miserable year?
But perhaps this is the year to ask other questions, for instance: What’s driving these ever-increasing costs? Do they contribute to making my employees healthier? And now, more than ever: What can my company do to shift this momentum away from the never-ending ‘lose-lose’ abyss of today’s healthcare paradigm?
