“An ounce of prevention is worth a pound of cure.” – Ben Franklin c. 1736.
Seems Ben Franklin may have been ahead of his time…
While he didn’t have to deal with group benefits for the Continental Congress, he definitely articulated a key principle of benefits management.
And that ounce of prevention is tied directly to your Medical ID cards.
Truth is medical ID cards can absolutely ruin your benefits plan. They can be the sole culprit to a double digit increase.
We’re living in an era of hyper-inflation relative to healthcare costs. Consider that healthcare costs have increased twice as fast as worker wages over the last decade.
And healthcare spending has increased a whopping 31-fold in the last four decades. Employers now spend $11,582 per employee annually for healthcare.
So, what’s driving these outrageous cost increases?
When you dig into the numbers, you’ll be surprised to learn that the biggest culprit isn’t the insurance companies… it’s the medical ID cards that are given to employees each year.
Medical ID cards are in essence… an unlimited employee credit card.
And yes, they are killing your renewal rates and ruining your benefits program.
If this concerns you, then our new report can help.
We wrote The Benefits Renewal Report to shine a light on the dangers of medical ID cards and show you how education and informed healthcare buying are the #1 factors to lowering healthcare costs.
It takes a detailed look at the 4 reasons the healthcare system is broken and why benefits programs fail.
The report also addresses the 3 approaches benefits managers can take to reduce risk and reduce rate increases. And it identifies the 4 policy changes every benefits manager must implement.
The report illustrates how controlling your benefits costs – and ultimately your renewal rates – is really about implementing a strategy that moves your benefits management thinking from buying insurance every year to managing your healthcare risks.
If you’re sick of the unchecked buying that leads to large claims and unsustainable renewals, this report will help.
It’s the ounce of prevention you need to put an end to renewal madness. You can get your copy right here.
