Providers face an unreasonably high cost of doing business, billing via claims and living in fear they won’t get paid by insurers. Some have started suing their patients
Now medical debt is the top cause of bankruptcy in the USA
Without access to their data, self-insured employers aren’t able to take action against rising healthcare costs — they’re forced to decrease benefits
Most employers experience 10-20% annual healthcare cost increases and have increased their average deductible from $826 in 2009 to $1,655 in 2019*
*Kaiser Health Report Employer Health Benefits Annual Survey 2019, pg 112
Members have more financial responsibility than ever, but there’s no way to know how much care will cost — until they receive a bill. Combined with the risk of surprise billing, getting care has become financially risky
64% of Americans admit to delaying or avoiding care in fear of cost - creating a downward spiral of poor health costing even more to treat
With pressure from clients for more sustainable plans, advisors need to package plans together that fight against rising costs. "Shopping" between carriers isn't delivering the change necessary
