Employers considering new options to counter health hikes

Premium increases continue to motivate employers to consider cost-saving solutions they previously may have shunned, Paul Fetterolf, senior consultant and market leader of Arthur J. Gallagher, says, encouraging advisers to understand some of these augmenting strategies. “Employers are considering things they wouldn’t have before, including self-funding, captives, PEOs,” he said while moderating a panel of industry experts at EBA’s Workplace Benefits Renaissance in Atlantic City this week. Premium increases, he said, are being driven by a myriad market occurrences, including the ACA, but especially by expensive specialty pharmaceuticals. Treatments are being created for diseases that previous

What is the actual cost of a team member’s doctor visit?

Trying to identify the actual cost of a team member’s doctor visit is a lot like solving those math equations that appear on Facebook. As I illustrated in my previous column, we have to break apart each component of the problem and make sure the pieces add up properly. The health insurance we normally discuss is more appropriately considered as pre-negotiated access to healthcare at set pricing levels. This gives us a base to begin the cost calculations, but it is only a single component of a complex equation. So, what does it cost when an Employer for a team member to visit the doctor? The simple answer is that it costs the employer the balance of the doctor’s fee not covered by the team me

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