Insights

You’d be hard-pressed to find someone who actually feels confident choosing a healthcare plan. It’s one of those decisions we have to make in life that is almost universally stressful, even for people who seem to have a better-than-average understanding of the many factors involved.

It’s hardly controversial to say that the American healthcare system has a lot of room for improvement. We have the best research universities, the best hospitals, the best doctors, and yet, compared to most wealthy countries, healthcare in the United States is more expensive and results in worse health outcomes.

When it comes to health insurance plans, high-deductible health plans (HDHPs) can get a bad rap. The “high deductible” part of the name is enough to deter those worried about rising medical costs. Then there’s the widely held belief that high-deductible health plans are only financially beneficial for young, healthy individuals.

Paytient is a benefit that employers can provide for their employees that can both increase access to healthcare and make it more affordable. But for employers already operating on thin margins, finding additional funds to implement these two strategies can be a barrier.

Americans will spend the vast majority of their adult lives at work, so it’s important that their working environments support a sustainable, balanced lifestyle. The pandemic era has only further emphasized the fact that employees are people with multidimensional lives, with work being only one part of the larger whole.

How are health insurance premiums calculated? When the cost of healthcare goes up, insurance premiums tend to follow suit. Let’s take a closer look at the relationship between these two elements of the healthcare system.