May 3, 2022
Harvard Business Review recently published insight featuring Keith Ericson, Associate Professor in Markets, Public Policy, and Law, discussing how employers can save money on insurance plans by following 3 simple steps.
As a first step, Keith recommends comparing full insurance plan costs instead of just premium and administrative fees. By determining the prices based on hospitals where your employees visit, you can get a more accurate picture of how much you will have to pay.
Keith also advises employers to pay attention to each plan’s network. Because most insurers offer different plans with negotiated procedure prices varying throughout, he stresses the importance of finding the one most pertinent to your company. Lastly, Keith recommended employers consider a fully insured plan since they can often be cheaper, and the insurers are the ones dealing with the risk. As he puts it, “Analyzing these hidden health procedure prices can take work but save employers money and provide a better deal for their employees.”
- [Journal of Financial Reporting] Corporate Sustainability: A Model Uncertainty Analysis of Materiality
- [Wall Street Journal] Taking a Company Private Brings New Risks, Responsibilities for Directors
- [Freakonomics, MD] Is Rainy Day Joint Pain All in Your Head?
- Expert Take: Measuring the Impact of Online Advertisements
- [Omaha World-Herald] Pandemic Forced Nebraskans to Innovate
- David ‘Big Papi’ Ortiz Visits Boston University’s Questrom School of Business
- [Forbes] Eli Lilly and Parexel Talk About the ROI of Practical AI
- [CBS News Boston] Expert Says Gas Price Gouging Nearly Impossible in Current Market
- [CBS News Boston] Drivers Change Habits as Gas Prices Rise in Mass.
- Is Starbucks’s Wage Increase a Shortsighted Strategy? What Experts Say