Health insurance for employees has not only gotten more expensive, it’s become more confusing. Why? More responsibility for choosing is going to those employees and, while its saving money for employers, health insurance — even for those in the insurance industry — is confusing.
Alegeus — the technology firm — did a study of 4,000 employees about the management of their own health insurance and health care:
• 66% say out-of-pocket costs are the biggest challenge they face
• It is also the most stressful part of managing their health care
• Over half say they don’t have the knowledge and tools to predict those costs
Spokesman John Park said, “Many employees are being forced to make some decisions and understand how to pay out of pocket for the first time. Once they have more experience it will become easier. They’ll become smarter consumers.”
But for now, they’re challenged. Employees find these aspects of healthcare management costs the most challenging and stressful:
• Planning for out-of-pocket costs — 69%
• Managing healthcare finances — 62%
• Shopping for best value services — 62%
• Medical bill scrutiny and payment — 59%
• Choosing health benefits — 55%
Park said employers need to make things a bit simpler for their employees and that starts with more employee involvement. “In a lot of cases, employees haven’t been engaged in the process as effectively as they could have been. Now, people haven’t fully processed their new responsibilities in a way that makes sense, and there are a lot of questions and anxiety at an employee. Employers can provide the guidance to help their employees learn and bring resources to them,” he said.
Source link: Employee Benefit Advisor