Hot Topics Blog
Monday, May 22 2023
During times of economic uncertainty, the choices employers make about their benefits offerings can have long-lasting effects on their finances, employee expectations, and ability to attract and retain talent. This can impact the overall health of the organization.
To ensure ongoing success, employers should carefully assess all areas of operations, including employee benefits. Focusing on this specific aspect can reveal opportunities for cost savings that could significantly affect the organization's bottom line.
Here are some practical strategies employers can implement now to optimize their benefits program and support operations during challenging times.
Plan Design Re-Evaluation
Improve Employee Communications
By helping employees avoid unnecessary out-of-network care and guiding them to low-cost outpatient and inpatient options, you can reduce overall medical expenses for both the employer and employee.
Many employers are also creating easy-to-use benefits portals to educate employees and provide important information such as health plan options, forms, enrollment calendars, and links to additional healthcare resources.
Bolster Your Employee Benefits Package
By thinking creatively and using cost-effective employee benefits, you can maintain the quality of your offerings while freeing up funds for other areas that need support during an economic slowdown.
Ask Your Benefits Broker for Help
We offer no-cost, healthplan evaluations. Please contact Wendee Allen for further details at 425-314-0988.