Rising healthcare costs are a major concern for employers. Health care costs have increased steadily over the past decade at a rate around 7% per year. Several factors contribute to higher costs, including an aging workforce and population, increased chronic conditions among employees, new medical technologies, and increased drug spending. To control costs, employers are focusing on strategies like consumer-driven health plans, wellness programs, dependent eligibility audits, strategic vendor management, and long-term cost control solutions rather than short-term fixes. Prescription drugs also represent a large portion of spending, so employers are promoting generics and mail order drugs to reduce drug costs.
Developing core metrics for employee health managementHealthFitness
There are currently few standards around how the health management industry discusses and measures effectiveness. However, this is about to change.
HealthFitness’ Ed Framer, Ph.D., director of health and behavioral sciences, is the co-leader of a collaborative project between the Care Continuum Alliance and the Health Enhancement Research Organization to develop standard metrics for employee health. At the World Congress Wellness & Prevention 3.0 Conference, May 8-9, 2013, he presented an update on the project and project scope.
Research co-authored by IBI and A. Mark Fendrick, MD, co-director of the University of Michigan Center for Value-Based Insurance Design, stresses that understanding the full value of improved health, including improvements in workforce productivity, lost time and medical costs, is essential in helping employers make better choices about how much to invest in health care and where to invest it. The report notes that a focus only on medical-cost-offset results is unlikely to generate the bottom-line impact and incentives for healthy human capital investments that would be generated by a full-cost view.
Looking for a healthier investment strategy? A new study by The Health Project (THP) finds that a portfolio of stock in companies that have won the prestigious C. Everett Koop National Health Award -- recognizing effective workplace health promotion programs -- has significantly outperformed the Standard & Poor's (S&P) 500 Index over the past 14 years. Since 2000, investing in Koop Award winners would have produced more than double the returns of the S&P 500, according to the new research led by THP President and CEO Dr. Ron Goetzel. Tune in to this webinar to hear more about this and related studies.
Developing core metrics for employee health managementHealthFitness
There are currently few standards around how the health management industry discusses and measures effectiveness. However, this is about to change.
HealthFitness’ Ed Framer, Ph.D., director of health and behavioral sciences, is the co-leader of a collaborative project between the Care Continuum Alliance and the Health Enhancement Research Organization to develop standard metrics for employee health. At the World Congress Wellness & Prevention 3.0 Conference, May 8-9, 2013, he presented an update on the project and project scope.
Research co-authored by IBI and A. Mark Fendrick, MD, co-director of the University of Michigan Center for Value-Based Insurance Design, stresses that understanding the full value of improved health, including improvements in workforce productivity, lost time and medical costs, is essential in helping employers make better choices about how much to invest in health care and where to invest it. The report notes that a focus only on medical-cost-offset results is unlikely to generate the bottom-line impact and incentives for healthy human capital investments that would be generated by a full-cost view.
Looking for a healthier investment strategy? A new study by The Health Project (THP) finds that a portfolio of stock in companies that have won the prestigious C. Everett Koop National Health Award -- recognizing effective workplace health promotion programs -- has significantly outperformed the Standard & Poor's (S&P) 500 Index over the past 14 years. Since 2000, investing in Koop Award winners would have produced more than double the returns of the S&P 500, according to the new research led by THP President and CEO Dr. Ron Goetzel. Tune in to this webinar to hear more about this and related studies.
The Healthcare Trends Institute, an educational platform focused on the rapidly changing healthcare benefits industry, conducted its fourth annual employer benefits study. The national survey went to over 250 human resources executives, benefit specialists and other benefit decision makers from organizations ranging in employee size from less than 50 to over 2,500. The quality and cost of healthcare is on every employer’s mind. The CMS has potential healthcare spending reaching $4.2 trillion by 2020. With our nation in a state of transition right now, there are some relevant considerations employers are facing as they look to transform the inevitable cost curve ahead and meet yearly organizational healthcare cost containment goals.
The Survey formed the basis for the 2016 Healthcare Benefits trends report on the following topics:
CURRENT HEALTHCARE BENEFIT BENEFITS: Identifies the most widely implemented health plan and benefit strategies employers are relying on to control costs, administer a wide-range of employee benefits and remain compliant in an ever-demanding regulatory environment.
Use of and Interest in Defined Contribution Plans, Benefits Redesign, and Employee Communication: Examines the awareness by organizations of defined contribution plans, their advancement in retooling benefit offerings, and commitment to communication efforts that educate and engage employees.
HEALTHCARE BENEFIT TRENDS – LOOKING FORWARD: Recognizes new market trends and approaches employers are considering to meet the needs of multi-generational, diverse employee populations.
This program is now what we have installed for clients to help take control of their health insurance costs. This program sheds light on the true drivers of health care costs.
Wellsource designs a revamped and improved Medicaid health assessment that streamlines the process and increases end user communication by up to 50%. For more information visit: http://www.wellsource.com/company-news/Wellsource-Designs-Medicaid-Health-Risk-Assessment.html
India’s Democracy is often referred as a ‘Miracle Democracy’ by the western press. No country has more heroically pursued the promise of democracy. Against the odds of staggering poverty, conflicting religious passions, linguistic pluralism, regional separatism, caste injustice and natural resource scarcity, corruption and social unrest. Indians have lifted themselves largely by their own sandal straps to become a stalwart democracy and emerging global power.
Inspite of all the achievements in the last 60 years, we the people in India grumble, criticize and blame the Government, the political & bureaucratic class, justice system, police and the sorts. This only indicates that, there is more to do and more refinements to bring in our democratic system. As a large democratic country, we do have problems. Most of our problems can be addressed by collaborative efforts between people to people, people to government, and people to corporate programs. The New Age interactive media; which is an amalgamation of web 2.0, social media, IPTV, Interactive Billboards, Mobile VAS, OOi Paper and Digital Signage has the potential to provide the necessary framework for interactions and make the collaboration productive, transparent and effective.
The lecture focuses on some of the initial thoughts, concepts of participatory democracy and how most of the current problems can be easily resolved with frameworks based on Interactive Media.
The Healthcare Trends Institute, an educational platform focused on the rapidly changing healthcare benefits industry, conducted its fourth annual employer benefits study. The national survey went to over 250 human resources executives, benefit specialists and other benefit decision makers from organizations ranging in employee size from less than 50 to over 2,500. The quality and cost of healthcare is on every employer’s mind. The CMS has potential healthcare spending reaching $4.2 trillion by 2020. With our nation in a state of transition right now, there are some relevant considerations employers are facing as they look to transform the inevitable cost curve ahead and meet yearly organizational healthcare cost containment goals.
The Survey formed the basis for the 2016 Healthcare Benefits trends report on the following topics:
CURRENT HEALTHCARE BENEFIT BENEFITS: Identifies the most widely implemented health plan and benefit strategies employers are relying on to control costs, administer a wide-range of employee benefits and remain compliant in an ever-demanding regulatory environment.
Use of and Interest in Defined Contribution Plans, Benefits Redesign, and Employee Communication: Examines the awareness by organizations of defined contribution plans, their advancement in retooling benefit offerings, and commitment to communication efforts that educate and engage employees.
HEALTHCARE BENEFIT TRENDS – LOOKING FORWARD: Recognizes new market trends and approaches employers are considering to meet the needs of multi-generational, diverse employee populations.
This program is now what we have installed for clients to help take control of their health insurance costs. This program sheds light on the true drivers of health care costs.
Wellsource designs a revamped and improved Medicaid health assessment that streamlines the process and increases end user communication by up to 50%. For more information visit: http://www.wellsource.com/company-news/Wellsource-Designs-Medicaid-Health-Risk-Assessment.html
India’s Democracy is often referred as a ‘Miracle Democracy’ by the western press. No country has more heroically pursued the promise of democracy. Against the odds of staggering poverty, conflicting religious passions, linguistic pluralism, regional separatism, caste injustice and natural resource scarcity, corruption and social unrest. Indians have lifted themselves largely by their own sandal straps to become a stalwart democracy and emerging global power.
Inspite of all the achievements in the last 60 years, we the people in India grumble, criticize and blame the Government, the political & bureaucratic class, justice system, police and the sorts. This only indicates that, there is more to do and more refinements to bring in our democratic system. As a large democratic country, we do have problems. Most of our problems can be addressed by collaborative efforts between people to people, people to government, and people to corporate programs. The New Age interactive media; which is an amalgamation of web 2.0, social media, IPTV, Interactive Billboards, Mobile VAS, OOi Paper and Digital Signage has the potential to provide the necessary framework for interactions and make the collaboration productive, transparent and effective.
The lecture focuses on some of the initial thoughts, concepts of participatory democracy and how most of the current problems can be easily resolved with frameworks based on Interactive Media.
Presentation delivered by Krishnamurthy Hegde, founder Interactive Media Worldwide group on Linkedin. This is to present a realistic, technically feasible, innovative and ‘Inclusive ‘ solution concepts and framework based on the New Age Interactive Media. The solutions can resolve many of the challenges that we face not just in our democratic process, but also at enterprise level.
Soraya Ghebleh - Using Financial Incentives to Influence Clinical Decision Ma...Soraya Ghebleh
This slide deck discusses some of the relevant factors that should be considered when designing financial incentives for providers of healthcare services.
Population Health Management: Enabling Accountable Care in Collaborative Prov...Salus One Ed
This document provides the reader information about population health management (PMH), how it relates to incentive payments for healthcare providers and their health insurance partners (commercial and government). See details about required transformation of care delivery methods, typical accountable care payment models, how to achieve incentives, partnerships between state government (public health) and community shared services needs and necessary technology and data to achieve it.
Three Keys to a Successful Margin: Charges, Costs, and LaborHealth Catalyst
How can cost management and complete charge capture protect and enhance the margin?
In this webinar, we will look at 2024 margin pressures likely to impact your organization’s financial resiliency. This presentation will also share how organizations can move from Fee-for-Service to Value; bringing Cost to the forefront.
mHealth Israel_US Health Insurance Overview- An Insider's PerspectiveLevi Shapiro
Presentation about the US Health Insurance Sector by Lori Rund, VP, Product Management and Market Intelligence at Health Alliance Plan, a managed care organization owned by the Henry Ford Health System, with 650,000 lives. Lori is responsible for the identification, concept building, researching and business case developments for new products, services and markets. She develops and leads comprehensive market intelligence functions to help the organization better understand industry trends and identify business opportunities.
Prior to joining Health Alliance Plan, Lori was Director of Product Development and Market Intelligence at Health Alliance Medical Plans in Illinois and Director of Market Research and Strategy at Carle Clinic Association, also in Illinois.
The Economic Value of Employee WellbeingCBIZ, Inc.
With health care reform a reality, top-performing employers understand that pursuing the objective of healthier, happier employees is even more important. To that end, they’re shifting their focus to fixing the environmental, cultural and lifestyle systems in the workplace that lead to struggling wellbeing, preventable health risks and modifiable costs. Find out how you can stay ahead of the curve.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Improving profitability for small businessBen Wann
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As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
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https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
1. Increasing Health Care Costs
and Your Employee Health Plan
Presented by: Alford, Staples, Lapeyre, & Robichaux
2. Health Care Costs Continue Climbing
• Health care costs have been increasing at an
alarming rate for over a decade.
• Average health care costs increased 7.5
percent in 2010 (up from 6.9 percent the
year before).
• Following years of growth, the rate of
increase is projected to slow for 2012, to 7
percent.
3. National Trends
Annual Health Care Cost Increases, National Averages 2004-2012
Source: Hewitt Health Value Initiative™, 2011
4. National Trends
Annual Health Care Costs Per Employee, National Averages 2005-2012
Source: Hewitt Health Value Initiative™, 2011
5. Contributors to Rising Costs
Several factors have led to the climbing health care costs
over the past decade, including:
• Demographics
• Expansion of health care providers
• Consolidation of managed care companies
• Political environment/government regulation
• Increased utilization and consumer demand
• New medical technology
• Weakening of managed care system
• Health care spending and medical cost inflation
• Increased prescription drug costs
6. Contributors to Rising Costs
Contributors to the current projected spike in
health care costs:
•An aging population and workforce
•Poor general health among employees
7. Contributors to Rising Costs
• Aging workforce
o Population is aging
o Slower hiring levels have lead to older workforces
o Older workers are more prone to severe and
costly health conditions
o Employers have seen a rise in the frequency and
cost of catastrophic claims, presumably due to
the aging workforce
8. Contributors to Rising Costs
• Poor general health
o Employees have become more and more
unhealthy, which has also contributed to health
care cost increases
o Preventable risk factors such as obesity and
high blood pressure had led to increases in
chronic, costly medical conditions such as
diabetes and heart disease
9. What Employers Can Do
Employers are becoming more proactive in
instituting strategies and programs to reduce
overall health care costs, including:
•Using health care data to drive health care strategy
•Greater emphasis on consumer-driven health plans
•Promoting employee health and wellness
•Increased employee cost-sharing
•Auditing and increasing cost-sharing for dependents
•Strategic vendor management
•Looking at long-term solutions and plans, rather than short-
term fixes
10. What Employers Can Do
• Using health care data to make strategic
decisions
o A top employer strategy for reducing costs,
according to a Hewitt Associates study
o Using measurable data and analytics to drive health
benefits strategy
o Important to go beyond accessing the data, and
understand how to apply it to making health plan
decisions and implementing changes
11. What Employers Can Do
• Greater emphasis on consumer-driven
plans
o Consumer-driven health care has become increasingly
popular
o Balances cost-savings for the employer, with employee
empowerment to make own health care decisions
o If paired with proper education,
employees will become smarter
health care consumers - which
will save both the company and
employees money
12. What Employers Can Do
• Promoting employee health and wellness
o A common initiative, aimed at increasing employee health and
effectively lowering health care costs
o Many employers targeting specific diseases and creating more
comprehensive programs
o Incentives for participation, particularly for actions that promote
actual behavior change (such as participating in a certain
program, rather than just taking a health risk assessment)
o Penalties for nonparticipation, especially in the form of higher
premiums or other employee cost-shifting
o Wellness and disease management programs are highly
dependent on quality employee education and communication
tactics
13. What Employers Can Do
• Increased employee cost-sharing
o Companies will continue to shoulder the burden, but
are passing off more costs to employees:
- Moving from fixed dollar copayments to coinsurance
- Increasing deductibles and out-of-pocket maximums
- Increasing cost-sharing for non-network providers
- Offering consumer-driven plans
- Increasing cost of brand name drugs to incentivize
generic use
14. What Employers Can Do
• Dependent management strategies
o Conducting dependent eligibility audits can save
companies huge amounts of money
- Studies show that an average of 3 to 12 percent
of dependents are not actually eligible
o Many companies shifting to a per-member premium
fee, rather than just “individual” and “family”
o Emerging trend is requiring spouses to pay more in
premium or assessing a surcharge, to encourage
spouses to enroll in their own employer’s plan
15. What Employers Can Do
• Strategic vendor management
o Another recent trend is companies evaluating their
vendor relationships more aggressively
o Vendors not producing measurable results are being
replaced or eliminated
o Looking for opportunities to consolidate vendor
relationships to get the most for their money
16. What Employers Can Do
• Long-term strategies vs. short-term fixes
o Short-term tactics, such as employee cost-shifting,
are still prevalent
o Many employers are also looking more closely at
multi-year plans and longer-term initiatives to
improve overall employee health and strategically
manage costs in the future
o Especially in the wake of health care reform, many
employers are worried about developing strategies
that have sustainability in keeping costs down
17. Determining the Right Strategy for Your
Company
• Is our program structure, plan design and pricing
appropriate?
• Do we have all the right vendors, services, contracting and
funding in place?
• Are our employee communication efforts appropriate and
effective – especially in regards to employee health and
wellness and consumerism?
• Do we have effective disease management and wellness
programs for our employees?
• Do our pricing and plan design features encourage cost-
conscious behavior on the part of our employees?
• Are we thinking about long-term solutions rather than simply
quick fixes for this year?
18. The Impact of Prescription Drugs
• Prescription drugs are an important part of
health benefits and make a big impact on cost
• Prescription drug spending has been one of the
fastest growing components in health care over
the past several years
o This growth has slowed lately, partially due to
increased availability of generics and
decreased medication adherence by patients
19. The Impact of Prescription Drugs
Prescription drug cost-cutting strategies :
•Instituting or rearranging your drug tier structure, to
incentive use of generics and increase cost for specialty
drugs
•Joining purchasing pools or drug discount programs
•Promoting the use of mail-order prescriptions
20. The Impact of Prescription Drugs
Prescription drug cost-cutting strategies:
•Promoting employee consumerism when buying
prescriptions
•Encouraging medication adherence
o Lack of adherence can cause costly medical
complications and exacerbate chronic
conditions
o An employee education and communication
initiative is needed for this to be effective
Avoiding rising health care costs is nearly impossible, but you can learn why they continue to rise and what you can do to minimize the fallout for your organization and your employees. This presentation outlines the latest health care cost figures, the factors contributing to these rate hikes and some solutions that firms around the United States are undertaking to help soften the blow.
This slide depicts the percent change in average annual health care cost increases from 2004 to 2012. The overall cost of health care has a direct impact on the rates employers pay for employee health benefits. Even though the rate of growth is projected to slow a bit in 2012, 7 percent growth is still substantial, and undoubtedly difficult for employers to handle.
This slide shows the average total health benefit costs for each active employee for the years 2005 to 2012. This spiking costs have prompted many employers to pass more costs to employees. In 2011 employees paid an annual average of $2,084 for their health benefits (21.3 percent of the total cost of coverage) and that number is projected to rise to $2,306 in 2012 (22 percent of total coverage).
As costs have dramatically increased over the past decade, various factors have contributed over the years.
The 2011 Hewitt Health Value Initiative Survey identified a couple specific issues that have contributed to the current increase.
The pressure of spiking health care costs paired with already tight budgets is prompting many employers to be more proactive in their strategies and programs to reduce health care costs. Here are some of the top strategies employers are using to manage their health care costs.
A Hewitt Associates’ health care survey found that employers’ top strategy for managing health care costs is using health care data and measurement to drive health care strategy and decision-making.
Health and wellness initiatives have become another popular health care cost management strategy in recent years, and remain one of employers’ top cost containment strategies – these are some trends seen among employers.
Many companies are choosing to pass more health care costs to their employees and/or structure their health plan in a way that incentivizes lower-cost options. Here are some of the strategies used.
Should you pass costs on to employees at the risk of losing some of them? Or, should you try to manage costs in some of the other ways discussed in this presentation? Ultimately, it is a decision that you need to come to through thoughtful and detailed analysis of your plans and with the advice of your broker-consultant. This slide provides some questions that your organization can address in order to begin developing an effective strategy.
Prescription drugs are a good component for employers to target, with a variety of available strategies that can contribute to overall health care cost management.
Health care costs and health benefit costs continue to increase at exceptionally high rates from year after year. You want to continue to offer valuable health benefits to your current and future employees, and you want those benefits to help you attract and retain good employees. However, you also need to consider the cost-effectiveness of those benefits at a time when hefty rate hikes are the norm, rather than the exception. The information contained in this presentation is designed to help you understand why your renewal rates may have increased, and to consequently help you educate your employees about the reasons for any plan or contribution changes you may have to make. If your employees understand current trends in the health care industry, they will be more supportive of any such changes and will appreciate the resources required to provide them with their health care benefits.