Typical service transactions are straight forward. When you walk into your frequented barber shop or hair salon, you should have a pretty good idea of what the bill will be when the service is complete. You will receive the service and pay the bill before heading out the door. All done! This familiar process translates to an oil change, car wash, pet grooming, and many other services we consume on a regular basis. Where we do not see this transaction sequence, is when purchasing healthcare services. 

If a possible unknown medical bill in the mail from your healthcare visit stirs up more fear in you than the effects of untreated injury and illness, this article is for you. The Healthcare Price Transparency Rule, effective January 1, 2021, brings patients closer to knowing what care will cost before a visit to the doctor even happens. This historic ruling empowers healthcare consumers, such as yourself, to shop around for the most affordable and quality healthcare services. Not only will you know what to expect for a visit or procedure cost but can accurately prepare financially in advance.

"...the (hospital) Price Transparency Rule (the “Rule”) requires all hospitals operating within the United States to make public a list of their standard charges for items and services via the Internet in a machine-readable format. Hospitals must also provide prices for a list of 300 shoppable services that must be made publicly available in a searchable, consumer-friendly format..." - Healthcarelawinsights.com 

In years past, healthcare consumers being in the dark regarding prices of healthcare services has brought about anxiety over surprise medical bills. Several reputable surveyors (including the Kaiser Health Tracking Poll and NORC at the University of Chicago) have reported that while the vast majority of Americans, over 90%, believe that physical exams are important, less than half of the population schedules this crucial, annual visit to their doctor. 

From newly hired team members to seasoned employees nearing retirement, every employee will have unique healthcare needs for their stage of life. If you provide employees sufficient education on how they can intelligently navigate healthcare, not only will employees save money, but claims will be mitigated which effect the cost of the employer-sponsored benefit plan.

When it comes to a stage of life and the healthcare education provided for said stage, the largest gap that we see, and employers often attest to, is among retirement ready employees.

Staying on the employer-sponsored benefit plan is rarely in the best interest of a retirement ready employee or the employer. With age, employees typically see more claims and complicated health issues that will weigh heavily on the company’s benefit plan. Alternative health insurance could save an eligible employee nearing retirement some financial strain and equip them with the options they need for their wellbeing. In turn, the employer could be spared high dollar claims that would affect their plan premium.

Because of these truths, your retirement ready employees knowing and understanding all healthcare options available to them is in the best interest of both the employee and the employer.

Retiring before 65? Hopefully finding the right health care coverage for you and your family has been at the top of mind. Roughly 90 days prior to your becoming Medicare eligible, chances are many of the health coverage options will present themselves to you in the mail. Each carefully crafted message surely tells you all the reasons {insert plan} is the best option for you. Unfortunately, no piece of mail, internet article or neighbor knows your unique individual or family situation, health history, current medications, retirement plans, or budget and each of these items play a huge role in deciding which retirement health insurance makes the most sense for you. 

We asked the Forsite Health & Wellness Center's Nurse Practitioner, Chelsi, for her New Year Healthier Living Resolutions. 

This list of achievable healthy habits considers the whole health picture: mind and body. For any individual seeking a healthier, happier new year, here are some simple resolutions to point you in the right direction.

1. Go for More Walks.

If you are not in the habit of frequent walks, start small! Tomorrow, get up and walk for 15 minutes. Gradually increase the number of days you walk and the length of your walks. To create some motivation in your walking endeavors, track your steps using a smart device such as a Fitbit or apple watch, or even your smart phone. 

An accountability partner is also a great way to stay motivated. Ask an office mate to commit to walking with you during the day, or a family member or pet to walk early in the morning or after work hours. 

 

2. Eat Your Fruits & Vegetables.

A diet including fruits and vegetables is so important for vitamin intake. being heart healthy and maintaining an ideal weight. It is recommended to include about 5 servings of fruit and vegetables into your diet each day. Think of one serving as about the size of your closed fist. You can increase your fruit and vegetable intake by making delicious smoothies, trying some new healthy recipes, or committing to fruit and vegetables as your snacks throughout the day and sides during meals. 

3. Drink More Water.

There are countless health benefits to proper water intake. These include, but are not limited to, increased energy, brain function, gut health, and weight control. What is proper water intake? The current standard is 8 glasses a day, but everyone is different! Listen to your body, and drink more if you feel you need it. It takes approximately 14 days of proper hydration to feel the benefits, so keep it up!

 

4. Be Mindful of Your Mental Health.

If you find yourself struggling in any facet of life, do not hesitate to find help. Counselors, crisis hotlines, and telehealth options are always available if you need assistance. 

Telehealth services rapidly increased in popularity in 2020, and conveniently include counseling and mental health services. Telehealth platforms operate like video call platforms many of us are comfortable using today. This service is user-friendly, often less costly than a regular visit to the doctor's office, and allows you or your dependents, such as your children, to see a professional from the comfort of your own home.

Find your provider here to learn more about Telehealth services offered to you.

5. Schedule Your Annual Physical.

Your annual visit with your preferred, in-network physician is covered through your company-sponsored insurance plan. Aside from this routine, preventative care, meeting with your physician once a year helps establish a relationship and trust for if a more pressing health issue arises.

Hesitant to schedule your annual physical? Many worry if their simple preventative visit will result in a surprise bill in the mail. To reduce this worry, here is a quick read about the difference between preventative services and diagnostic services, and some steps you can take to ensure your intended visit is covered under your plan.

Read An Ounce of Prevention is Worth a Pound of Cure.

Chelsi’s New Year Resolution:

“With COVID, I am no longer going to the YMCA to work out. I’m hoping to start a home workout program this year and get out for a walk at least once a week.” 

Download this free, printable newsletter for the office.

This Month's Nav Series Newsletter is a quick and easy read about gathering and organizing your benefit resources.

Did you enjoy this educational read? 

Here are some additional Nav Series Newsletter topics to Help Your Employees Better Navigate Today's Healthcare System:

• The Flu Vaccine & COVID-19
  
• Prevention and Routine Care
  
• Forsite Assist
  
• Life Stage Support
  
• Employee Assistance Programs
  
• Difficulty Affording Prescription Drugs?
  
• Telemedicine
• What is a Health Savings Account?
• The Open Enrollment Checklist For Employees

One of the leading employer challenges heard from leadership teams today is helping employees make educated decisions about their health care plan; more specifically, the need for employers to help employees with retirement. 

As your employees experience all stages of life from marriage to children or retirement, they are faced with health care plan decisions that, when chosen incorrectly, can cost them unnecessary financial strain. Unfortunately, employees are often uninformed, overwhelmed, and left feeling frustrated when navigating their health care plan.

A recent study done by Northeast Wisconsin Manufacturing Alliance (NEWMA) looked specifically at retirement-age employees.

This study shed light on the increasing concern employers have for helping their aging employee population make informed healthcare decisions. With roughly 10,000 American employees reaching retirement age each day it’s a significant portion of your workforce that will need this support.

So, how can you help retirement age employees make informed healthcare decisions as an employer?

Check out this employee education piece on how to navigate health insurance for retirees under 65 before Medicare eligibility.

At Forsite Benefits, we continuously look for ways to make sure retirement-ready employees know all their options and how to find the best benefits for the least amount of cost. That’s why Forsite benefits developed Life Stage Support. Through our advocacy a Forsite Benefits Life Stage Support Counselor will work one-on-one with willing employees to coach them through selecting their best available health care plan option, saving them from unnecessary financial strain.

Be sure to check out the full article for more insight on what Northeast Wisconsin Manufacturing groups need to know when it comes to their retiring employee population.

If you are interested in learning more about mitigating risk by finding the best coverage for your employees needs through our Life Stage Support services, please reach out to Charles | csvihlik@forsitebenefits.com.

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