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May 8th, 12:00 – 12:30 PM EDT
With industry analysts estimating that childcare payments have increased by more than 30% since 2019, it’s no wonder that fewer than a third of U.S. households can afford a nanny or daycare center. Compound these conditions with a growing need for adult caregivers and companies bringing employees back into the office and it’s easy to see why many working parents are either leaving the workforce or searching for a position with more flexibility.
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Health benefit costs continue to pose a greater burden for employers and plan members and the underlying costs of care are projected to rise by as much as 7 percent in 2024. With this as a backdrop, the New Year is a perfect time to review an approach that has enabled many self-funded health plans to achieve both lower costs and high quality.
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