According to a recent survey by Prudential Financial, companies are open to making changes to their health care benefits, and may even consider eliminating them. Half of the companies surveyed said they would send their employees to private exchanges to purchase subsidized coverage.
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The desire for companies to make changes in healthcare benefits stems from cost control concerns, which is the number one priority. Second in line is minimizing the rising healthcare costs to employees. According to Kaiser Family Foundation, employer based insurance premiums have risen 80% over the past decade.
“Everyone is looking at how to better control benefit costs and healthcare is still the number one issue,” said Jim Genus, senior vice president of product for Prudential Group Insurance, in a statement. “But they are acutely aware of the need to retain employees and attract new ones.”
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ClaimLinx provides an easy-to-implement solution for controlling the skyrocketing costs associated with healthcare benefits. We believe the private exchanges are a good idea because costs are lower than group insurance and yet still provide the same level of benefits. Contact us to find out more.
Please read the article by Paul Demko in its entirety here.