What can we do to prevent rising costs?
Experts say cutting costs will require a concerted effort from employers, employees, and state and federal governments.
For employees, the most important thing they can do to keep costs low is to become eligible for health care, Calciano said. But they also need to consider the difference between expensive but often high-quality PPO plans and more affordable HMO plans, and despite previous loyalty with their health care provider, new You have to be willing to consider your options, Fazen said.
“The employee might say, 'No, my family always goes to another hospital in the area,' so we'll go to the other one.” It could be more expensive or not enough. “We may not be able to provide adequate care,” she said. “Employee selection is always an important part of this, and employees need to choose wisely.”
Rice University's Ho said companies will need to restructure their healthcare plans after 2024.
“It's up to employers to start thinking more wisely about what kind of health care they buy. I generally believe that CEOs and executives at large companies, and their human resources departments, are trying to find affordable health care for their employees.” “I'm disappointed in how people think about getting a quality health insurance plan at an affordable price,” she said. “I think they're going to throw up their hands and say, 'Oh, that's too complicated.' And that leads to the demand for health insurance and medical care becoming completely inelastic.”
Calciano said companies can consider plans where pharmacy benefits managers are not typically owned by insurance companies and target claims as soon as possible. But that means employers need to encourage their employees to get preventative care.
