In the face of growing health care costs and an uncertain future for the Affordable Care Act, many US employers are looking for new ways to provide quality health benefits for their employees at a reasonable cost. At Employee Benefit News, Paul Johnson recommends that small and mid-sized employers, in particular, consider self-funded plans as an alternative to traditional group health insurance:
To balance the scales and create a competitive advantage, more companies are turning to healthcare plans based on a self-funding model that offer more flexibility, customization and cost-savings while still improving the quality of care. Self-funded plans have been almost universal among large employers for quite some time, yet only in recent years have more HR departments at small- and mid-sized companies started to realize the benefits. …
Unlike more rigid traditional insurance, companies can customize their offerings to address specific needs, such as investing in injury and chiropractic care in industries that require physical labor to robust maternity benefits for those with younger workforces.
Another increasingly popular option is value-based care. Also at EBN, Sam Ho and Tim Cappel explain how value-based health care programs work and why employers are choosing them: