Benefits Buzz

Market Changes, Mounting Costs

Posted on May 18th, 2016

Since the Affordable Care Act (ACA) took effect, Flex has been following closely as the market transitions further away from traditional healthcare concepts. The following is the first piece in a three-part series that addresses key industry issues, trends and solutions related to Consumer-Driven Accounts (CDAs).
Due to the ACA requirements, healthcare costs have skyrocketed and the strains are being felt by everyone from health insurance companies to individuals. As a result, each type of healthcare participant has developed alternative strategies to keep costs manageable.
As premium and out-of-pocket costs get passed down from insurer to employer and eventually to the employee, their decision-making process is rapidly evolving to compensate for these costs. This increased financial burden has created a need for employees to do their healthcare homework.
In the second part of this series, we will discuss how this cost shift has brought further change to viewpoints within healthcare. 
This information is presented by Flexible Benefit Service LLC (Flex), who has been providing cost-effective programs to the marketplace since 1988.

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