working knowledge

commercial insurance market (i.e. employer funded health plans) will take on more cost as provider expenses increase, or communities risk hospital system consolidation which has shown to reduce competition and increase costs in the long term.

Yet, despite warnings of a recession, the last two quarters of 2022 experienced economic growth. Businesses and consumers have been resilient. We should expect new environmental forces to emerge testing that resiliency, as we’ve seen in the banking industry in recent weeks. Moreso than ever, employers should consider how their investment in Total Rewards, in terms of cost and recruiting & retention effectiveness, impacts their business strategy.

The most effective way to ensure your Total Rewards package is built to support your business goals and sustain a dynamic environment is with a multi-year strategic plan focused the entire benefits ecosystem. The process to build a plan begins with a conversation about your business and culture. Our work entails zeroing in on your data to crystalize the needs of your workforce and focus on high impact you can proactively manage risk and implementing effective health improvement initiatives to protect your plan and employees long term.

In our February seminar titled, “Future Prepping Your Benefits”, we discussed that the future is here already and employers should prepare themselves to act if they haven’t already. Let us know what you are trying to address. We are

1 https://www.usinflationcalculator.com/inflation/current-inflation-rates/

2 https://ycharts.com/indicators/30_year_mortgage_rate

3 https://www.nimh.nih.gov/health/statistics/mental-illness

4 https://www.fiercehealth care.com/providers/investment-losses-and-15expense-increase-pushes-cleveland-clinic-787m-loss-q2-2022