With healthcare costs expected to rise by some 6.5% this year and growing concerns over hospital price transparency, many employers are open to new ideas. Some who have looked at Self-Funding or Reference Based Pricing (RBP) in the past are now revisiting these options in an effort to keep healthcare affordable for their organization and their employees.
Alternative ways of funding employee health benefits have always been a concern for HR directors, charged with helping employees adapt to change. The fact is that these strategies are becoming more and more widespread every year. In most cases, moving away from a fully insured plan with a traditional PPO can often result in a health plan that is not only stronger but more cost-effective as well. If your broker has failed to speak with you about self-funding or reference based pricing, contact us to learn more.