How will benefit costs be brought into alignment?

0
835 views

With significant cost increases in workplace benefits continuing year after year, how will businesses be able to control costs in the future while still offering an attractive enough benefits package to attract top tier talent?

Benefit Plan Design
Cost Control
Diversification
Jamie Trigg, AEHIA, AEHIT
66 months ago

1 answer

0

We need to think big to answer this question. First, universal healthcare (e.g. single payer model) will by all estimates reduce the cost of administration of benefits, and will likely reduce the operational costs of the institutions providing services. Second, and I am asking the reader to indulge me for a moment, the faster genetic engineering of healthcare solutions is successfully adopted such that for every major disease a CRISPR solution exists at a personal level, the reduction in healthcare system capacities will significantly drop. Think that you will not need as many surgeries, chemotherapies, radiation treatments, and common organ deficiencies such as diabetes or heart medicines will cured with a short term treatment. The need for insurance companies decreases, and most certainly the costs associated with that entire industry as well. Disruptive? You bet, but as far as the costs of benefits for all companies, and for employed people, will be far more manageable. Your "talent" will be more focused on your company, not on the benefits if they are all the same. Something you want to encourage anyway.

Sandy Waters
66 months ago

Have some input?