GroupGroupBuck_BondGroup
The rising frustration with out-of-control healthcare costs

The rising frustration with out-of-control healthcare costs

par Tags:

Dave Ratcliffe and Lori Block spoke recently to Managed Healthcare Executive magazine about the desperation employers and employees feel over higher-than-ever, employer-sponsored healthcare coverage. Employers feel they’re not getting good value for what they spend. And employees see any salary gains wiped out by rising healthcare contributions, leading to growing job dissatisfaction.

“[B]ig changes are imperative—the status quo is unacceptable,” said Ratcliffe, a principal in the Health & Productivity Consulting practice at Buck.

Block, a principal and industry insights leader at Buck, identified five key areas of employer frustration, including: vendor market consolidation (leading to lack of competition); preference for performing more services at lower quality; volatile risk exposure for self-insured plans; lack of transparency in prescription drug pricing; and a general reluctance on the part of the system to adopt necessary changes.

The article goes on to suggest seven actions employers can take to mitigate costs. At Buck, we believe that addressing the challenge of rising healthcare costs is an important part of defining the new social contract.

Related insights

The five key stages to implementing an international share scheme

Your business is unique. Your culture is unique. Your staff are unique. There’s no...

En savoir plus

Will COVID-19 affect pension funding liabilities?

You may have seen recent headlines proclaiming that life expectancy in the US has...

En savoir plus

Technology and communications: The dynamic duo of the benefits world

Batman and Robin. Starsky and Hutch. Sonny and Cher. Ant and Dec. All famous...

En savoir plus