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The Health Care Industry: What Really Reformed?

Health Care Reform has irreversibly changed the landscape of the American health care system and while coverage will be extended to roughly 30 million people, little has been done to address the mind-boggling costs. Let's review the facts: health care costs are already increasing at 12% annually, meaning that insurance premiums will double in 6 years. Even the most profitable companies simply cannot afford to ignore the figures, especially considering that employee benefits typically constitute 35 percent of total employee compensation.

What can be done to decrease costs and limit risk? As a population, we must assume individual responsibility for our health care. Employers, via their group health plans, are in a unique position to encourage this responsibility, through creative plans designs and appropriate incentives to encourage employees to participate in meaningful and effective population health management programs. A proactive approach using practical strategic planning paired with meticulous compliance support will be the keys to implementing the consumer mentality successfully. Each employer must choose whether they will address this problem directly or simply let it overwhelm their business.

Posted February 25, 2011

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