DPC News

EBA | Views, Why self-insurance strategies are out of whack and other realities for advisers

By Shandon Fowler | Employee Benefits Advisor publication | Published May 09 2018, 2:01pm EDT

Look, I get it. The benefits business has changed immensely in the past decade and advisers are perpetually under pressure to show value to their clients. Actively seeking cost reduction in employer healthcare spend is a natural place to focus, and a vital one. The rising tide of advisers tackling the high cost of healthcare is not just highly commendable, it’s necessary. But…the way it’s happening is whacko. Here is the basic strategy for what the more hyperbolic advisers are calling a “revolution” in advising: Convert employers to a self-insured model; attack costs on multiple fronts by designing plans that make it easier to address high-cost usage patterns; go hard after wasteful PBM and carrier/provider network arrangements; promote healthcare consumerism and old-is-new-again strategies like direct primary care, and continually monitor and audit claims data to see where next attack high costs and waste.

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SOURCE: https://www.employeebenefitadviser.com/opinion/why-self-insurance-strategies-are-out-of-whack-and-other-realities-for-advisers

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