Is offering group health insurance for employees still a benefit?
In contemplating this question, I thought of ole Frederick Nietzsche and his philosophy of Amor Fati, meaning Love your Fate, all of it. In his thought experiment, he imagines an existence where you live your life, day after day, in the exact same way for eternity. Take the good with the bad, the ups and the downs. Embrace all of it, with no regrets or desire to change a thing.
Are organizations Amor Fati-ing their way through life when it comes to HR and employee management, particularly around the health plan?
Well, frankly, outside of a small percentage of employers, yes! As a result, employers are gambling with the lives of their employees and their families.
2019 federally allowable maximum liabilities for a single employee is $7,900, maybe 10% of the population incurs that amount of actual “healthcare.” In some cases, copays are more than the real price for consult and treatment of a medical condition. Insurance companies tell you where, how much, and when you can get treatment, and, oh by the way, you are paying exorbitant premiums to the carriers(!) for this “service.”
Yet many employers embrace the suck, every year, of “shopping” for group health insurance with a “broker they’ve used for years.”
Stop living in the Nietzsche paradigm. More insurance is not a solution, it further propagates the frustration felt by the “system.” Insurance is an integral part of the comprehensive solution. Also part of the solution, however, is a component for an advisor to help people obtain better healthcare services.
Rather than taking an insurance first approach, look for solutions that focus on high quality healthcare services first, then fit an insurance solution around that.
While employers might be willing to exist in the Nietzsche paradigm, employee are not. There are too many options and too many anti-Amor Fati employers who are willing to look at alternatives to set themselves apart to become a magnetic employer for the best and brightest.
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