15 Mar We can reduce health care cost now, and later
By Grant Dattilo
Kaiser Family Foundation found that the health insurance premium for an employer-provided medical plan for a family soared to $22,389 in 2021. This is an increase of 27% since 2014, when the Affordable Care Act’s provisions took effect.[1] It’s not enough to say “Well, that’s the way it is. It could be much worse.”
What employers need is a short- and long-term private market strategy. We believe the best strategies are those that restore purchasing power to employers and employees, instead of yielding more control to insurance companies and government.
The power over pricing lies within a patient-friendly private marketplace. Long-term getting there will require significant legislative overhauls, at the state and federal level. This takes time and patience. Yet, employers cannot wait for politicians to take action – costs are soaring today.
We have a strategy that can reduce premiums by 40 percent or more for fully insured health plans to use now – to meet today’s health insurance cost challenges. We call it the BENIC Plan – Benefit Employers Not Insurance Companies. The BENIC plan takes advantage of the current law in ways that actually will reduce premiums and puts more purchasing power in the hands of employees to make wise spending decisions.
Long-term, we are investing in a whole new price transparency strategy that will make it possible for everyone to shop for more affordable care. In the future, we will share this idea in more detail.
Give us a shout out about our unique BENIC plan, a strategy that could work well for you today. Contact Grant Dattilo via email and we will get back to you as soon as possible.
[1] Staff. (2021) 2021 Employer Health Benefits Survey. Kaiser Family Foundation, San Francisco. 11/10/2021. Accessed on 3/1/2022.
