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Healthcare is a benefit which is extended by the
employers, but rising costs have set the alarm bells
ringing. Researchers suggest that these costs are set to
rise in the coming years. To keep the costs under control,
most employers are turning to other methods to reduce
costs (taking services of healthcare cost reduction
company) and ensure that their employees have sufficient
Traditionally the employers have been buying fully
insured plans from the insuring companies. In this, the
employers agree to pay a certain amount of money
towards healthcare costs for a worker often termed as
PEPM (per employee per month) arrangement. On the
other hand, some employers cover the healthcare costs as
they occur in which the risk lies with them. But
significant reduction in costs is observed with level-
funding in which the employer set-ups a self-funded plan.
But instead of paying on as need basic, they bill it on
PEPM schedule. The benefits are tax exemptions and
lower premium costs.
Making Changes in Prescription Drug Plans
The price of prescription drugs is set to rise in future and
to make that it is not affecting the employer's profits they
are motivating the use of the generic drugs instead of
branded ones. They are also asking employees to seek
approval before filling in a prescription. The employers
are also resorting to cost-sharing plans so that employees
working with pharma companies to get better terms for
Promoting Employee Wellness
More and more employers are organizing fitness
campaigns to keep their herd fit and fine. Many of them
are opting for wellness initiatives.
In The End
These are only some of the ways, but the professional at
the healthcare cost reduction company is better
equipped to slash your rising health costs.