Rising Healthcare Costs: How Health Plans Can Help Members Navigate

The following is a guest article by Jake Sattelmair, EVP and General Manager at Wellframe, a HealthEdge company Healthcare costs are on the rise in the United States, posing significant challenges for individuals, employers, and health plans. Factors such as an aging population, an increased prevalence of chronic conditions and rising costs for medical technology and prescription drugs have all contributed to the surge in healthcare expenses. Unfortunately, these increased costs are passed on to patients, making healthcare increasingly unaffordable and inaccessible for many. According to the Average Cost of Health Insurance report, the projected average healthcare insurance premium for a 40-year-old on a silver plan purchased through the Marketplace in 2023 will be $560 per month, a 4% increase from the previous year. The rise in average monthly premiums for silver plans in 2023 will affect states such as Georgia, Colorado, Wyoming, Alaska, and New Mexico the most. Moreover, employers are expecting significant increases in healthcare costs over the next three years, with 7 out of 10 anticipating moderate to significant hikes in what they pay for healthcare benefits. However, there are ways for health plans to support their members in managing their health and healthcare expenses. Health plans can provide resources, such as preventive care and digital tools, to help members stay healthy and minimize their healthcare expenses. It’s important for health plans to communicat...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Communication and Patient Experience Health IT Company Healthcare IT Telemedicine and Remote Monitoring Care Management Chronic Conditions Digital Health Apps Digital Tools Health Plans Healthcare Costs Healthcare Payers HealthEdge Source Type: blogs