Monday, July 13, 2020

Health Care Costs, Benefits and Reform

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Forthcoming changes to the insurance market landscape in 2014 and 2015 will bring many employers to a crossroad. As health care reform unfolds, markets evolve, and costs continue to rise, employers will need to make important strategic decisions to actively manage their costs and figure out how best to respond to insurance-related provisions of the Affordable Care Act (ACA or the Act).

Deloitte's 2013 survey of U.S. employers (50+ workers) offering health benefits shows their concern and uncertainty about ACA preparedness, health care system performance, cost-reduction strategies, and the quest to find value. Among key findings:

  • U.S. health care system performance -- Seeking better value and health outcomes for their investment, many employers are dissatisfied with the performance of the health care system, considering it to be costly, wasteful, underperforming, and lacking in transparency.
  • Affordable Care Act -- Although familiar with many of the ACA's insurance elements, three years into implementation and facing decisions around insurance exchanges and the employer mandate, the Act remains largely a mystery to many employers.
  • Employer strategies and tactics -- Employee cost-sharing tactics are in place but there is a gap between what employers are currently using and tactics they think could have high impact in managing costs.


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