Lowering Out-O-Pocket Healthcare Costs

Choosing a Health Plan

As an employer choosing which health plan to offer, many considerations must be taken. In a perfect world, an employer chooses a plan that keeps costs down but also fits employees’ needs, boosting overall satisfaction and retainment. However, finding that perfect combination isn’t always easy when there are so many moving parts that factor into the decision-making process.

Employers should consider:

  • Cost—Many costs are associated with health insurance. Employers need to understand what their employee population can likely afford. Furthermore, the employer must determine how much of the plan the organization will cover along with how much employees will contribute.
  • Type of plan—there are a variety of plan types to choose from. For example, HMOs, which have limited healthcare options but are offered at a lower cost, or PPOs, which provide more options but at a higher premium. Selecting a plan type depends upon properly weighing costs and employee needs.
  • Technology –Does this insurance plan include telehealth, and is it desired by your workers? Additionally, consider how user-friendly and accessible the technology is for employees looking to schedule an appointment with a provider. Employers should look for a plan that offers intuitive technology to enhance the user experience.

Once an employer weighs the plan options, costs, and technological capabilities, a plan should emerge that best fits the company’s needs. It’s important to re-evaluate plan choices each year as the deciding factors are constantly changing, and the plan previously selected may no longer be the best option.

Choosing a health plan can be cumbersome, but that is why Creative Benefits, Inc. is available to assist every step of the way. If you have questions, contact your dedicated Creative Benefits team member.