According to the U.S. Department of Labor, employers spend more than 30 percent of payroll on employee benefits — and every well-informed employer knows that this number is growing. As health care premiums continue to rise, employers are struggling to find creative, strategic ways to control costs while maintaining competitive benefits to attract and retain the best talent. Tactics such as changing carriers, slashing benefits and shifting costs to employees provide only short-term financial results and negatively impact employees. Analyzing health care costs and utilization, and better understanding employee needs, can help you tailor solutions and develop employee incentives that reduce costs and slow increases over time.
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The Employer Benefit Cost Management Scorecard is specifically designed to help you identify ways to control benefit costs through strategic, data-driven methods.