When you’re shopping for a new employee health benefits plan or your current plan is up for renewal you want to know that your organization and its employees are getting maximum value for your spend. Insurance companies know this – and they know how to entice you with some quick discounts.
But there’s no such thing as “discount” benefits.
Whatever “savings” you earn in the first year you can be almost assured to pay back – with interest in year two and three. Meanwhile you’ve put your business through the cost and hassle of a new enrolment and onboarding process, possibly short-changed your employees’ coverage, and in the end you’re no farther ahead.
This is the benefits bait-and-switch, and it hurts your business.
Discount Benefits Don’t Exist, But Sustainable Benefits Do!
Employee health benefit prices that don’t address what’s driving your costs upwards won’t save you money in the long-run.
You need a benefits plan that looks at underlying cost factors, like:
– Prescription drug costs that leave your business holding the bag, or
– Health and dental reserves that keep more of your money in the insurer’s pockets than they need to, or
– Disability coverages that don’t get your employees back to work safely and quickly.