As we close the first quarter of 2023, we’re hearing from employers of all sizes and across industries: Employee benefits cost management is a priority for 2023. Rising inflation and interest rates have employers looking to cut spending amid an uncertain economic forecast. While a solid labor market encourages employers to offer robust benefits to stay competitive. Luckily there are solutions to address these concerns. We present several of these in this issue of The Current Insurance Report.
“The reality is that each employer’s situation is complex and unique, and this requires knowledge and evaluation of multiple factors and solutions,” said Co-President, CEO, and Publisher Andrew Bloom.Request Instant Full Access to The Current Insurance Report 2023-1.
While there are options and tools employers can deploy, not every approach will be the right fit for a given organization or situation. From conservative and traditional to innovative and aggressive, the articles in this issue look at cost containment strategies for organizations of diverse sizes and needs.
For some, this may mean considering self-funding or more aggressive approaches, like reference-based pricing which targets the most expensive claims. Smaller organizations may turn to captives, consortiums, or their alternatives to increase their buying power in pursuit of better rates.
“Managing costs is a top concern for us with any client and in any economic outlook,” said Co-President, CEO, and Publisher Mike Lisa. “The right partner can offer employers the right options to help them thrive in any environment.”
In addition to these financial concerns, compliance remains a priority for many employers adjusting to new rules and regulations. This issue provides updates on the latest compliance developments, including abortion rules, fiduciary committees, mental health parity enforcement and the end of COVID-19 national and public health emergency periods. The end of these emergency periods will impact policies and deadlines.
Finally, this issue includes on-demand access to several of our recent webinars. Our experts have been busy presenting a variety of education events for HR and finance professionals, and we’ve collected that information for this issue.
As your organization defines and refines its employee benefits strategy, don’t miss the cost containment expertise of this issue.