Health Benefits Trends: New Solutions For Employers

As the new year approaches, health benefits offering a real return on investment are being considered, amid rising costs and growing pressure to offer competitive and affordable health services beyond health coverage. traditional insurance.

Employees want to discover and see the true value of their health plan while they work. They are looking for solutions that meet their needs and provide tangible benefits that are easy to understand and use. Here are five trends to watch in 2024 to offer more membership options to employer clients:

1. Develop a smarter plan to help people manage their health. Millennials use the healthcare system more than other generations to manage their illness. Across the country, there is a commitment to clinical strategies aimed at early intervention by strengthening primary health care and promoting care coordination. The first step is to develop preferences that encourage people to receive regular care, make new diagnoses early, and manage chronic conditions appropriately.

Smart benefit design can remove barriers that prevent employees from getting the care they need while helping manage costs. The benefits are not limited to developing a plan, they should also extend to supporting members to receive support when they need help. Predictive data and analytics can help participants take action and provide effective resources and support to those managing complex cases.

2. Employee burnout is a solution point and wellness program . The pandemic has forced employers to take better care of their employees' health, giving rise to a variety of new wellness programs and healthcare solutions. Some have been game-changers and delivered significant benefits, while other healthcare companies have struggled to deliver on their promises.

 

Although access to wellness programs remains important, research shows that many of them fail to reduce health plan costs. The greatest impact comes from personalized, unique solutions that easily integrate into a comprehensive health plan in a way that eliminates barriers to care, both virtual (e.g., free virtual physical therapy) and in-person (e.g. , free mental health insurance). ). .

3. The health benefits include consumer-oriented ideas for other industries. Healthcare, often seen as a bureaucratic and complex industry, has benefited more from innovators who have driven change by mimicking the practices of industries fueled by consumer spending. For example, there is pressure for more transparent billing and interest-free, installment payment options for health insurance. As medical debt continues to weigh heavily on the healthcare industry, some companies have begun offering payment solutions. This is included in health insurance plans.

4. Increased attention to pharmacy lighting. Prescription drug prices, particularly specialty medications, continue to rise. The study found that one in four adults who take prescription medications have difficulty paying for them, making it difficult to adhere to treatment. The problem gets worse every year as new drugs appear on the market. This way, health care companies and employers can do more to reimburse members and employees for prescription costs. Covering free generic drugs while working with pharmacy partners to expand access to affordable specialty medications is an important step in combating this trend.
5. The popularity of ICHRA continues to grow . The popularity of single-insurance health care reimbursement arrangements has tripled in recent years. They may be suitable for employers with a seasonal, part-time or geographically dispersed workforce. They are also a great alternative for employers who want a more flexible way to support their employees' health. According to our latest survey, 89% of decision-makers are likely to consider ICHRA employee benefits in the next three years, and 87% are likely to do so.  We think ICHRA could be a good option for their business in the long term.

Employers continue to look for forward-thinking companies that offer health benefits, strive to innovate, invest in digital solutions and find new ways to improve the member experience. When brokers direct employers to the right benefits partner, employees can stay healthy. When this happens, everyone wins.

Ben Simmons is the CEO of Gravie Health Plan. Contact him at [email protected] .

 

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