"Our study shows that employers need to rethink the way they approach and negotiate their benefits plans," said Krieg. "Instead of simply accepting higher health plan costs as a forgone conclusion and passing the financial burden on to their employees, companies should find ways to reduce costs without sacrificing the quality of the services provided. This is a strategic imperative for companies that want to remain competitive from a financial and recruiting standpoint, especially at a time of lowering unemployment rates. The good news is, there are proven strategies to do it. It just requires a different mindset."
The RIBA study outlines a five-step plan to enable employers to maintain health plan quality while reducing costs, including focusing on innovative new benefits procurement methods and evaluating vendor relationships and associated arrangements – including hidden costs and conflicts of interest. This approach has been used by Fortune 1000 and middle market employers which have realized savings in the range of 10-60 percent. In many cases, companies have saved millions of dollars on their health care spend.
To read the full "Health Plan Costs Devastate Middle America's Disposable Income" study, visit http://riskinternational.com/disposable-income-report/. To arrange an interview with Eric Krieg, contact Eileen Petridis at email@example.com or (216) 696-0229.
About Risk International Benefits Advisors
Risk International Benefits Advisors (RIBA)™ is an independent, unbiased benefits management services group that helps companies optimize their benefits spend. If a company spends money on it, RIBA reviews it. With RIBA on their team, companies have peace of mind knowing that their benefits program will outperform those of their competition. RIBA has a no commission, fee-for-service business model that ensures objective advice. This guarantees freedom from all conflicts of interest that currently exist in the benefits industry today. For more on RIBA please visit riskinternational.com.
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SOURCE Risk International Benefits Advisors