Report: Employers Seek to Reduce Healthcare Costs, Struggle to Measure ROI of Employee Benefits
First Stop Health 2019 Health Benefits Cost Containment Report reveals how employers plan to manage healthcare costs in 2020
CHICAGO — Reigning in benefits spending is a top priority for employers, according to the results of the inaugural 2019 Health Benefits Cost Containment Report from First Stop Health. The report, in partnership with SourceMedia Research/Employee Benefit News and Adviser, surveyed human resources professionals who work in mid- to large-sized organizations about the benefits they offer and how they are containing healthcare costs.
The report indicates that during a 50-year low in unemployment, employers continue to offer competitive benefits to their employees, such as mental health coverage, flexible spending accounts, telemedicine and employee assistance programs. At the same time, 45% of employers surveyed said containing benefits spending was their top priority.
Employers also indicated that they struggle to measure the ROI of their existing benefits, making it difficult, if not impossible, to determine which benefits are working for their organization.
“Since our inception, First Stop Health has been focused on two things: delivering the best possible healthcare experiences for our patients, and helping them and their employers contain costs,” said David Guttman, president of First Stop Health. “But as we looked for research on containing healthcare costs, we were surprised how little was available. We hope that both employers, and the benefits consultants who serve them, will find real value in the information we have collected.”