HEALTHCARE COSTS TOO MUCH

Health Insurance in the US now costs a family of four $26,000 per year*. $15,000 (58%) was covered by you, the employer which left $11,000 (42%) for the employee. The employee cost split into $6,700 of premiums and $4,300 of out-of-pocket expenses such as deductibles and coinsurance.

$26,000 for health insurance? These numbers are unsustainable and affecting your bottom line.

*Milliman Medical Index

 
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Shifting Costs

Employers have been left with no choice but to shift cost onto employees in the form of deductible and coinsurance. Deductibles have now risen 63% over the past 5 years, far outpacing premiums (19%), employee earnings (11%), and inflation (6%). 

 

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Can’t Afford Their Medical Bills

This has created a massive credit problem for employees across the country.  Medical debt puts financial pressure on your employee and their families, decreases disposable income, lowers morale, and is the major cause of bankruptcy across the country.

  

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High Deductible Plans

These increases are clearly seen with high deductible health plans (HDHPs) which have exploded since inception. In 2006, only 4% of workers had HDHPs, and a decade later has increased to 29%!

 

 

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Avoidance of Care  

The high costs of care are causing some to avoid seeking medical treatment. This can lead to other problems, prolonged absences from work, a worsened condition, a missed diagnosis, and potentially even greater expenses.

 
 

The AblePay Solution


Discounts

Through our provider relationships, we are able to provide immediate discounts to your employees on their out-of-pocket expenses. The employer may also be eligible for discounts depending on the type of health care plans in place (HRA, etc).

 

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Flexibility

Every employee is faced with different circumstances and we offer a variety of payment terms for our members that make the most sense for their specific needs.

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Advocacy

As an AblePay member, your employees will have the added protection of our provider claim experts advocating on their behalf to ensure their claims are processed accurately.                                                             

 

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Convenience

We make it easy by accepting ACH, health reimbursement arrangement (HRA), flexible savings accounts (FSA), health savings accounts (HSA), credit cards, and debit cards.

 


Why Partner with AblePay?

Every employer strives to maintain the best workforce, yet this task has become more and more difficult as employees are forced to bear the burden of increasing healthcare costs. Contact us today to see how we can strengthen your current plan or "soften the blow" if you are transitioning to an HRA or HSA. The best part is we do all the work. Aside from helping to connect us to your employee group, your business experiences no increase in workload, yet reaps all the benefits!

 

 

 

LEARN MORE

Help your Employees with the Rising Cost of Healthcare. Contact us today!

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