The healthcare landscape is quite complex and navigating the employee benefits industry can be exceptionally challenging.
As if that’s not enough, misinformation and misconceptions are all too common and finding straightforward answers and solutions can be far more difficult than not. Senior Client Executive Tammie King at OneDigital Carolinas and Managing Consultant Kevin Reid at OneDigital Mid-Atlantic shed light on several of these common industry myths and misconceptions in an article published in BenefitsPRO, “Mythbusters: What's the Single Biggest Myth or Misconception You Hear About Health Care or Employee Benefits From Your Clients, Their Employees or the American Public?”
“Business owners often assume that if their company were a bigger group, their rates would be cheaper. While we know that the larger numbers help spread the risk, that doesn’t control the demographics and health risks that exist within that larger population; thus, the premiums could actually be higher.”
— Tammie King, Principal and Senior Client Executive, OneDigital Carolinas
“Employers still think of benefits as a liability on the balance sheet, rather than looking at how they can strategically contribute profitability to the bottom-line revenue of the organization. Based on how employers set up their premium contributions to high-deductible health plans and whether they help offset the higher deductible, this concept can be beneficial for everyone—not just healthy people. There is an opportunity to implement these plans, which typically drive a lower premium and allow employers to save premium dollars and fund a HSA or HRA while keeping the out-of-pocket expense lower for employees.”
— Kevin Reid, Managing Consultant, OneDigital Mid-Atlantic
Contact your OneDigital Consultant to learn how to enable your employees to become wiser consumers of benefits and how to spot these industry myths.