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Mercer Marsh Benefits

Cost management

Balancing cost and empathy in employee banefits

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Over the past year, employer-sponsored health and benefit plans have moved from a “nice-to-have” to being a central pillar of the employee value proposition, with increased C-suite attention.

In response, the variety and sophistication of products in the market has grown – with many firms offering not just insurance benefits, but also a broad range of physical, mental, social, and financial well-being initiatives. 

As a result, the costs of employer-sponsored health and benefits plans are climbing rapidly – on average, medical costs outpace general inflation by close to three times.

MMB can help you

Cost management of these plans is being pushed up the corporate agenda, making it the ideal time for employers to begin thinking about long-term containment strategies.

Mercer Marsh Benefits can help employers create cost-effective health and benefits plans that not only control costs in the short term, but over the long term. The more affordable plans are, the more you can open eligibility to a broader set of the workforce – which benefits everyone and helps attract and retain employees.

We work with you to leverage your data and identify the inefficiencies in your current program in the following ways:

  • Design for value – through coverage provisions, network configuration, and engagement.
  • Manage health risk – through a data-driven approach that promotes a healthy workforce.
  • Drive efficiencies – through smart financing and placement.

We can help you bend the curve with multi-pronged and multi-year strategies that address these three points simultaneously, while at the same time demonstrating care for your employees. 

Report

Resetting priorities to manage risks for workforce and business resilience

Research shows the greatest likelihood and impact of 25 workforce-related threats facing employers worldwide according to human resource (HR) professionals and risk managers. Do you know which people risks provide the greatest threat to your business and how to mitigate them?

 

 

 

Explore the report

70%

of HR and risk managers agree that governance and financial risks pose a serious threat to the business.

52%

say increasing health, risk protection, and well-being costs are likely, and 45% say these risks could have a catastrophic impact.

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Find out how optimizing employee benefits packages can help you improve finances, reduce risk, and boost employee satisfaction and retention.

Speak with one of our team today.

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