Attracting and retaining employees has never been more challenging. The quality of your benefits packages can set you apart from the competition. Here’s a checklist to ensure you’re considering the right health issues.
If your insurance company has a track record for failing to honor fairly negotiated contracts, your employees could face skyrocketing out-of-pocket medical costs and, in some cases, less access to the healthcare they need.
In Tennessee, Cigna has been reducing the size of its network, kicking trusted healthcare providers out-of-network while earning billions in profits.
By kicking providers out of network, insurance companies like Cigna have a smaller network of healthcare providers. That may make it more difficult for Cigna customers to deliver a baby, receive trauma care, or have heart surgery without needing an out-of-network provider.
If Cigna is on the short list for your Tennessee employees, beware. Your employees deserve a health insurance company that puts customer service over excessive profits. Look no further than Cigna’s profits in 2023 — $5.2 BILLION — to understand its priorities.
Here’s a hidden fee that can significantly increase your company’s insurance costs: “Shared Savings.” When insurance companies throw providers out-of-network, employers pay higher fees that are disingenuously referred to as “Shared Savings” fees. Research and seek out insurance companies that do not charges these fees.