Employers need to stop rolling over and playing dead when it comes to health insurance plan cost hikes. The rising health insurance costs call for some serious attention.
What if I told you your payroll costs were going up by 7% this year and your cost of goods sold were up 8%? And what if you then found out that your peers were seeing significantly lower increases, thereby shifting competitive advantage in their favor? What would you do?
I’m fairly certain most businesses would be up in arms and immediately deploy their best and brightest to figure out what the problem was and how to fix it. Fortunately, you’re probably not facing those cost increases, but you are facing another one that’s equally, if not more, damaging — rising health insurance costs.