DSG Benefits Group, LLC’s Post

Enhance your benefits and earn $573 per W2 employee per year! _________ Employee dissatisfaction due to rising healthcare costs and reduced health insurance plan options is a significant issue for U.S. employers. Various surveys highlight the extent of this dissatisfaction: 1. High Out-of-Pocket Costs: According to a survey by the Business Group on Health, 73% of large employers are concerned about high-cost drugs, and 92% are worried about the overall pharmacy cost trend. These rising costs often lead to employees facing higher out-of-pocket expenses, contributing to dissatisfaction. 2. Reduced Plan Options: Many employers are limiting health plan options to manage costs. This can result in employees feeling they have fewer choices that fit their healthcare needs, exacerbating dissatisfaction. Bridgecrest Advisors empowers businesses to enhance their bottom line with zero-cost medical benefits that employees love and use. Our comprehensive offerings include zero co-pay and deductible for primary and urgent care, telemedicine, and preventive services endorsed by the ACA. With a remarkable 100% participation rate, our plan seamlessly integrates with and enhances your current benefits.

Direct to employer contracting can help Health Systems improve retention rates, provide better patient experiences and give greater access to providers by eliminating the insurance carrier in the middle. ➡️This model is a powerful and innovative step toward the future of health plans Find out if your Health System is ready to take this step: https://hubs.li/Q02FzX5n0 #Healthcare #DirectContracting #Innovation #HealthSystems

The latest blog post by Abi's VP of Insurance and Alliances, James Hart, focuses on the impact of technology for health insurers, including: 🔍 The ongoing challenge of loss ratios and how insurers can mitigate 📈 Impactful strategies for sustainable growth amid rising healthcare costs 💻 The strategic deployment of technology and AI to improve efficiency ⭐ How Abi's Next Generation Virtual Care Platform is reshaping industry norms and outcomes Read the full article here: https://lnkd.in/eNKCtVUd If you're attending #insurtechweek in London, connect with Kim-Fredrik or James to learn more about next generation virtual care for insurers. #insurance #insurtech #healthcare #virtualcare

"History" "Pattern or Practice" 2020 " MultiPlan’s harsh negotiation tactics should be good for rising American health care costs; insurers are supposed to lower costs by negotiating lower prices on behalf of the patient. But instead, MultiPlan acts like a mafia enforcer for insurers, forcing doctors to accept low payments while insurance premiums for patients…somehow continue to rise." "  MultiPlan represents some of the worst aspects of American health care." https://lnkd.in/g-YR4GMz

Someone needs to look into Multiplan’s practices. Understand the motivations for Big Insurance and self-funded health plan sponsors, but what happens when health systems and providers refuse to treat your members and employees based on unsustainable payment for costly services? What happens to your members and employees when these providers start balance billing? https://lnkd.in/gmDYYi-T

In the United States, a mere 3% of the colossal $4 trillion healthcare expenditure is allocated towards prevention. Today, insurers have the technology to unlock that massive amount of money and use it to encourage the health and wellbeing of their policyholders. AI stands at the forefront of this healthcare revolution; Its ability to process vast amounts of data can lead to personalized wellbeing assessments, predicting individual health risks with remarkable accuracy. This capability is vital, allowing insurers to develop customized insurance products and preventative health strategies tailored to individual needs. #technology #innovation #future #ai

Employers navigating rising health benefit costs with innovative strategies: - Focusing on cost management without burdening employees financially - Encouraging high-quality care and intensive care management Small vs. large employers: - Small businesses faced higher cost increases and average health insurance costs - Large employers' self-funding advantage and resources for effective health program management Impact of prescription drugs: - Pharmacy benefit costs surged by 8.4% in 2023, shaping future cost trends - Ongoing developments in the pharmaceutical market driving long-term implications Affordability remains a priority: - Large employers avoiding cost shifts to employees through deductibles or OOP maximums - Providing diverse medical plan choices for varying financial needs Stay informed on the changing landscape of employer-sponsored health plans! https://lnkd.in/gu-P7hvX

I've got a story today with my colleague Josh Ulick that won't surprise anyone who pays for health insurance premiums offered as a workpalce benefit. The health insurance you get through work is a lot more expensive than it was two years ago. Today, we report on the latest data: average family premiums increased 7% in 2024 after the same increase in 2023. Premiums are higher largely because prices for medical care are higher. So why are prices for medical care going up rapidly just as Americans are seeing inflation slow almost everywhere else in the economy? Economists, employers and benefit consultants tell me hospital systems -- which often also include imaging and surgery centers, physician groups and other services -- are behind the sharply higher prices pushing up premiums. Hospitals have won hefty price increases during recent contract negotiations with health insurance companies, which hospitals said they need to make up for rising economywide inflation. Economists also say that hospitals have gained more power to command higher prices after years of mergers that have consolidated local markets. 

Inflation catches up with healthcare The average per-employee cost of employer-sponsored health insurance rose by 5.2% in 2023 to reach $15,797, and employers project another sharp increase for 2024. Because healthcare providers typically have multi-year contracts with health plans, inflation-driven cost increases are phasing in as contracts are renewed. 'Mercer Survey' https://lnkd.in/ebsXaFTU

I saw this slide in the Natiaonl Alliance of Healthcare Purchaser Coalitions' Pulse of the Purchaser 2024 Survey Results and found it interesting. This is a list of the what these healthcare purchasers' see as the biggest threats to healthcare affordability. What I found interesting is that if they were working with an advisor who's interests are aligned with theirs and working with them to create a sustainable, high-quality, affordable health plan, then at least 6 of the 9 concerns should be managed or eliminated, and strategies should be in place to manage the other 3. In other words, working with an advisor who's interest are aligned with the employer would significatnly reduce or eliminate the biggest concerns noted in this survey. There are strategies available today to address each of these concerns, maybe not eliminate them completely, but at least allow for better managment of these concerns. FYI - these conceerns will never go away with the traditional status quo BUCA plans. The Big Health insurance carriers leverage these concerns to their advantage to drive profits. Reducing or eliminating them would hurt their bottom line, their executives' compensation, and their stock prices/shareholder value.