“My health insurance premiums are so high!”
“We pay too much for our group health coverage!”
“My prescriptions keep getting more and more expensive!”
These are just some of the things we hear on a regular basis in regards to healthcare and the insurance we use to help cover the costs. So why exactly are health costs skyrocketing? Here are five reasons why.
- Unhealthy lifestyle choices lead to chronic conditions. Lack of exercise, poor food quality, not getting enough sleep, smoking and excess alcohol consumption are all risk factors that lead to chronic conditions such as obesity, heart disease, diabetes, and cancer. Unfortunately, a large percentage of the population struggles with these choices.
- The costs of prescription medications keep going higher and higher, directly from the manufacturer. Lack of competition, availability of information, and federal laws limiting the ability to negotiate the price of prescription drugs are factors.
- Consumers pick the wrong treatment setting for their healthcare. Knowing when to go to the emergency room versus scheduling an appointment with your primary care physician can dramatically affect the cost of the care you receive.
- Consumers select the wrong plan for the lifestyle, increasing their monthly premiums. Talk to your HR representative about your lifestyle when selecting your insurance coverage. If you have a chronic illness, children or other dependents, travel frequently or are in generally good health, you might want to consider different plan options or deductible strategies to help keep your monthly premiums in check.
- Poor health literacy makes consumers use basic services instead of other options. Without the proper knowledge, consumers may not be able to find information and services, communicate about health and healthcare, or decide which information and services work best for different situations and people so they can act.
It’s important to talk to your Human Resources team, including your Davis Dyer Max representative, about how you can reduce the costs associated with your health insurance. The right conversation can make the whole difference.