The Employee Benefits Marketplace is chartered to protect and provide a safety net for the deep and ever changing needs of real people; they continue to generate programs that fail to deliver.
The most obvious and tragic failure is the high cost health plans that are fundamentally at the core of every individual’s and family’s safety net. Most people can tell you, through their painful, personal experience, what their plan is costing them each payday AND what it doesn’t cover. Rather than feeling protected, they are simply turned off. First dollar benefits are a thing of the past.
The Benefits Industry must tune in and begin to develop and deliver programs that are relevant, affordable and that bring real protection against the real risks facing all real people.
An emerging group of innovators are creating a new era of true benefits. Many of these programs are being developed and launched in response to the terrible economic fall out from the ACA.
Very few people, including industry insiders, are aware that there are alternative and innovative solutions available! They are highly affordable and actually represent the first dollar benefits so many have lost and are desperate to replace!
MOR Strategy Partners is on a singular mission: to identify, access and deliver these opportunities to a marketplace thirsting for more! We encourage our industry and those who rely upon its innovation to stand and deliver benefits that benefit, and demand MOR!
Most working Americans have, and continue to experience the economic tsunami of healthcare firsthand. The current state of healthcare options holds them hostage in a number of ways. Nearly half of employers with less than 100 employees have decided not to offer health benefits for their employees. Employees must find healthcare on their own: through a spouse, parent, or through the shrinking marketplace. Their most affordable choice is generally finding a different, “better” job.
The other half of employers who have 100 employees or less are facing extreme inflation this year, with healthcare cost increases ranging from 20%-70%. Many of these companies are at the tipping point – seriously considering no longer providing healthcare benefits. Employers want to provide competitive pay and benefit packages, but in 2017, that is out of reach for many, with healthcare eating up an average of 58% of a company’s profit.
Today, if an employer offers health coverage, chances are, the health plan comes with high deductibles and no co-pays for prescriptions or office visits, making those out-of-pocket expenses fall on the backs of workers and their families. As of 2015, the average cost of health premium is more expensive than the average mortgage. Given the fact that almost 80% of us use less than $800 per year in actual incurred healthcare expenses, many are asking, “why spend premium for something I won’t really use this year?”
The cards are stacked in favor of Providers, Insurers, Pharmaceutical Companies, Brokers and the myriad of people who are part of this “system.” Let’s stop referring to health care as an employee benefit, and start naming it as another one of today’s most pressing economic factors, which is beginning to bury us all.
In this crisis, MOR Strategy Partners continue to respond and provide alternatives to businesses large and small, providing access and affordable alternatives to the traditional and outdated programs we’re used to, and struggling with. To learn more about what consumers and employers can do, contact us today for a free consultation.