Average Health Insurance Premiums

It’s no shock to many that insurance premiums have increased in the past several years. When is enough enough, when are you finally going to say, you’ve had enough? Now? Later? You’ve all been complaining about the increases, and BenStaff is offering a solution that’s not easy, but incredibly real and robust.

Everyone in the industry is asking that question, it’s the reason no one has an answer, it’s the reason, absent any direction, we’re going to get government run health care that none of us will want.

Under government run healthcare, you will have rationing, maybe not for you as an owner, you’ll find yours with private pay doctors. Your friends and relatives and you will be subject to inferior health care because it’s not about the money! It’s about the process, that’s what has our “system stuck”.

I’ll show you in a short period of alternatives, some requiring public policy changes, yes, we have to engage in politics to change our course. Yes, you’ll have to roll up your sleeves and begin to adopt new strategies for your employees. Dropping coverage and moving to 100% Obamacare will look attractive today, we’re helping employers today shop the government market, there’s a 15% relative value increase to do that, but there’s a net savings to employers. This is only temporary relief not permanent.

If all of this frustrates you, contact us today and let us help you make the most of your healthcare plan.

https://kaiserfamilyfoundation.files.wordpress.com/2013/04/8345.pdf

Healthcare Spending in the United States

“The issue is particularly acute in the United States, which not only spends much more per capita on health care, but also has had one of the highest spending growth rates.”

By now, it should not be a shock to you that the United States spends much more per capita on healthcare compared to other countries and the fact that it has had one of the highest growth spending rates. The two biggest problems we face today are the already inflated cost and the uncontrolled, unchecked, unbalanced, runaway rate of increase to that cost.

In addition to higher health spending, the United States is increasing its spending faster than other countries. As you can see from the graph, the United States has a significantly accelerated growth rate compared to many other countries. The combination of a high level of per capita healthcare spending in the 1980’s and a high growth rate between the 1980’s and 2008 resulted in the high level of per capita spending that we now see in the United States.

The difference between the spending in the United States and other countries should encourage people to take a further look into what people are getting for their healthcare dollar. In the United States, it isn’t clearly seen. While in other countries, the results of what they pay for their healthcare can be clearly seen across the country.
We have done research that we will be sharing with you over the next 50 posts. We’re laying the groundwork for our white paper that proposes real solutions that are not being talked about.

Identifying Waste in Healthcare

“In an increasingly global economy, the inefficiency of the U.S. health system ranks poorly. The U.S. spends nearly twice as much per-capita on health than other industrialized nations without a corresponding gain in outcomes, according to the Screen Shot 2015-07-28 at 11.06.55 AMOECD.”

In April 2008, PwC hosted the 180° Health Forum in Washington D.C. and brought together representatives of government, regulatory bodies and the nation’s largest hospitals and health systems, health insurers, and pharmaceutical and life science companies to seek new approaches to solving some of the health system’s most difficult problems.

Through their research, they found that wasteful spending in the health system has been calculated at up to $1.2 trillion of the $2.2 trillion spent in the United States. They also found that some of the biggest areas of excess are defensive medicine, inefficient healthcare administration, and conditions that are preventable with lifestyle changes.

PwC also found three key “wastebaskets” that are driving up the costs of healthcare:

  • Behavioral- where individual behaviors are shown to lead to health problems
  • Clinical- where medical care itself is considered inappropriate
  • Operational- where administrative or other business processes appear to add costs without creating value

If the $1.2 trillion of wasteful spending were eliminated, that would be over half of the health care costs eliminated. Compared to other countries, the United States is spending nearly two times as much with no clear outcomes. Make sure you are aware if your healthcare costs are going into one of those three wastebaskets, and if they are, contact us today and let us help you make the most of your healthcare plan.