For employers, offering comprehensive health benefits is a smart move when it comes to attracting and retaining quality employees. But it’s no secret that doing so comes at a cost that can be hard to manage year over year. A recent survey shows that more than 40% of large U.S. employers plan to employ cost-management strategies to control projected health plan cost increases of 5-6% for 2020. As employers grapple with rising health care costs, Blue Cross Blue Shield companies are actively working on solutions to not only improve the affordability of health care but to improve the health of individuals and communities.
Blue Cross Blue Shield Association President and CEO Scott Serota will share his insights on the challenges facing the health care system during an upcoming Detroit visit. He’ll appear before the Detroit Economic Club on Tuesday, Sept. 10 at a special fireside chat hosted by Dr. Deanna Lites of WWJ Newsradio 950. Blue Cross Blue Shield of Michigan President and CEO Daniel J. Loepp will introduce Serota and facilitate a Q&A with the audience. Serota will touch on four key issues when he addresses the economic club gathering:
- Affordability. Nationally, Blue Cross Blue Shield companies are leading the charge on value-based care initiatives that reward quality of care instead of quantity. In Michigan, a robust patient-centered medical home designation program – the largest of its kind in the country – has prevented more than $626 million in health costs since its inception in 2009.
- Political landscape. Regardless of potential future changes at the federal level in 2020, Serota will offer his thoughts on action items political leaders could take now to improve affordability and access to quality health care.
- Millennial health. Born between 1981 and 1996, people in this generation are seeing declines in their overall health sooner than previous generations. Serota will discuss how Blue Cross Blue Shield companies are working to listen to and support Millennials and how employers and health care providers can help positively affect the health of their younger employees and patients.
- Social determinants of health. These are the social and environmental factors that have a broad impact on the health of individuals and communities. Factors such as transportation, access to healthy foods and education oftentimes play a much bigger role on health than people think and Serota will share some of the ways Blue Cross Blue Shield companies are working to address societal barriers to health. In Michigan, the Blue Cross Blue Shield of Michigan Foundation has funded a variety of research and community initiatives to address social determinants, including a project looking at best practices for health care providers to use when screening for issues patients might be facing.
If you’re interested in hearing Serota’s presentation, purchase tickets here. Read up on how Blue Cross Blue Shield of Michigan is keeping rates predictable for employers here. Like this post? Read more like it:
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Photo credit: Steven_Kriemadis