Today, we live in an insurance marketplace defined by healthcare reform, double-digit rising health costs and plenty of unknowns. Given the changing landscape, many HR professionals view their benefit plans as a challenging blend of cost-containment strategies and employee retention. But there’s hope! Perhaps it’s time for a reintroduction, or introduction as the case may be, to a known entity and dynamic insurance duo: self-funding paired with voluntary benefits.
Employers of all sizes have the same goals when it comes to their benefits offering — high quality and affordability. Some companies achieve these goals by cutting costs and going with a self-funded plan and a high-deductible health plan. Yet by pairing with a voluntary benefits offering, at no additional cost to your bottom line, HR professionals could add one-on-one employee communication for enhanced understanding and engagement and additional insurance options tailored to employees’ needs.
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