Employers' Health Coverage Now Exceeds $20000 Discover Why

Strategies to Manage and Mitigate Costs

Despite these challenges, employers have several strategies at their disposal to manage and potentially reduce health insurance costs:

1. Wellness Programs: Implementing wellness programs can lead to healthier employees and reduced healthcare claims over time.
2. High-Deductible Health Plans (HDHPs): Offering HDHPs paired with Health Savings Accounts (HSAs) can lower premiums while providing tax advantages.
3. Telehealth Services: Encouraging the use of telehealth can reduce costs by minimizing unnecessary in-person visits.
4. Self-Funded Plans: Larger employers might consider self-funding their health plans to have more control over costs and benefit design.