Healthcare Cost-Reducing Trends Among Employers

In an effort to drive down healthcare costs, HR professionals are developing myriad programs and incentives designed to empower employees to take a more active role in their health & benefit decisions. Current cost-reducing trends among employers include:

  • Implementing Employee Wellness Programs: Offering a wellness program, comprehensive health data and incentives to increase employee participation can lead to a more informed and healthier workforce. Employees may especially benefit from taking a Personal Health Assessment and accessing resources to learn more about specific health and wellness topics. When employees lead healthier lifestyles they are likely to visit the doctor less frequently, and the costs of employer-sponsored health plan premiums are not likely to increase at an excessive rate. Offer several tools and resources that promote health and wellness throughout your company.
  • Defined Contribution: The defined contribution model provides large employers one way to control costs and help employees fully understand their total compensation package. Design a completely new experience for employees based on personalization, social tools, mobility and most importantly, choice. Employers can provide a branded, online retail environment where employees can shop for their benefits and explore how to best spend their defined contribution dollars. Employees can choose from a variety of benefits, wellness programs, company programs and perks.
  • Utilizing Multiple Communication Channels: It is important to take into account the different age groups that make up your workforce and how they prefer to receive information. Rich content libraries, videos and FAQ resources allow you to easily provide clear, consistent communication so your employees can fully understand and appreciate the benefits you offer. When you need to convey a more comprehensive series of messages or tasks to your employees, you can organize content into a training program. Training programs can include an unlimited number of chapters and sessions, and they can contain video, text and documents.

With the rise of healthcare consumerism, HR professionals are increasingly implementing these strategies to reduce costs and encourage employees to take charge of their own healthcare.