A reflection on navigating 2025 benefit planning
As an entrepreneur and the owner of a business with over 100 employees, I find myself grappling with a pressing concern that weighs heavily on my mind: the rising costs of healthcare.
Every year during open enrollment season, I witness firsthand the challenges that come with providing competitive benefits to my team. These challenges don’t just keep me up at night; they dictate how we invest in our future—in talent, technology and advancements that could elevate our business.
The crux of the issue is a challenge many business owners face: how do we afford to keep providing robust benefits to attract and retain top talent, while still maintaining a sustainable business model? The frustration intensifies when I consider the limited options available to small business owners like myself. Even for me, an expert in the healthcare industry, I am often left feeling powerless against a system that seems to prioritize profits over people.
However, I have a responsibility to my employees. It is my duty to ensure they have access to healthcare that doesn’t expose them to crippling premiums, massive deductibles, or limited coverage. The consequences of inadequate healthcare are dire: increased medical debt burdens our employees, straining their financial well-being and, ultimately, their productivity. But how can we address this without placing an undue cost burden on our businesses that could threaten our future?
Employers must go beyond merely offering insurance; we need to recognize how our choices affect our employees’ financial health. It’s time for us to consider: if there were a viable solution to help lower costs for both our businesses and our people, would we embrace it?
In the absence of comprehensive, affordable health plans that protect employees from the pitfalls of medical debt, we as employers have a responsibility to provide practical pathways to reduce these costs.
Providing easy access to hospital financial assistance, bill review and negotiation assistance, and flexible payment plans is essential. Additionally, empowering our employees to make informed decisions about their care is just as crucial in helping them reduce out-of-pocket costs. Tools like benefit navigation services can bridge the gap between affordable care and overwhelming medical bills, equipping employees with the support they need to fully understand their benefits, bringing transparency to costs and empowering them to choose the best options for their health.
To illustrate my point: providing insurance without the tools to navigate the complexities of the healthcare system is akin to giving a teenager a car without teaching them how to drive or obey the rules of the road. It’s not just irresponsible; it’s a disservice to our people who depend on us to advocate for their health and financial stability.
As business owners, we must champion accessible, affordable healthcare solutions that prioritize the well-being of our employees. Our workforce’s health is essential to our success. It’s time to invest in them as we invest in our own growth—and to build a future where everyone can access the care they need without insurmountable costs.
