With an ever-changing insurance and healthcare marketplace, leaders have become frustrated with the lack of transparency, flexibility and control when it comes to their organization’s healthcare spend.
Executives feel powerless about the current state of healthcare, pigeon-holed into accepting rate increases from insurers due to a lack of control over negotiations, removing any ability to regulate costs. Many leaders fail to realize that the excess medical premium they are paying is feeding the insurers’ bottom line, resulting in a 67% increase in insurance companies’ profits in the last five years.
Said another way, 10‐15% of a business’s total healthcare spend bolsters insurance companies’ bottom line, seriously damaging profitability and undermining a company’s ability to invest in needed talent to drive business growth. Today, forward-thinking organizations are focusing on the intersection of HR and finance to capitalize on high-performing funding alternatives that optimize risk management, control costs and maximize employee engagement.
OneDigital offers a unique solution to reject the status quo and bring a fresh-thinking approach to how you manage benefits plan risk. Watch this video to learn more.