The Healthcare Cost Crisis Facing Nursing Homes
As providers of critical care for our most vulnerable populations, nursing homes are no strangers to complex challenges. However, one issue threatens to undermine these vital facilities at their core - the rising cost of employee health insurance.
For nursing homes that rely heavily on funding sources like Medicare, escalating insurance premiums can devastate already tight budgets. Many are trapped in expensive, fully-insured "old-school" plans, absorbing annual cost increases with no control.
Brokers simply say "it is what it is," leaving employees to bear the brunt through higher out-of-pocket expenses. Low plan participation becomes inevitable as costs become unaffordable.
The consequences are severe. Beyond the financial strain, nursing homes face an uphill battle to attract and retain quality caregiving talent. With an average cost of $4,500 to hire and train each new employee, losses to competitors offering better benefits can cripple operations. And in an industry with a high percentage of staff who prioritize robust healthcare coverage, subpar plans simply won't cut it.
Fortunately, there is a solution - one that savvy nursing home leaders are beginning to embrace. By rethinking their health insurance strategy, facilities can regain control over costs while providing employees with superior care access.
Our Process: Strategically Reducing Your Healthcare Spend
For many nursing homes, this means initially moving from a fully-insured plan to a level-funded model for 1-2 years before ultimately joining our captive program. This measured process insulates your facility from disruptive changes while achieving maximum long-term savings.
The Hallmarks of a High-Performing Health Plan
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By implementing a strategic, multi-year roadmap, nursing homes can reclaim their healthcare spend while providing robust, valuable benefits that support employee satisfaction and retention.
The Results
Facilities that embrace our approach quickly realize substantial gains:
white_check_mark Reduced overall insurance premiums year-over-year
white_check_mark Lower out-of-pocket costs for employees
white_check_mark Minimal administrative burden on HR staff
white_check_mark A powerful competitive edge for attracting nursing's best caregivers
In today's challenging healthcare landscape, nursing homes require cost-effective solutions that strengthen their workforce and operations. We offer a clear pathway to sustainable, affordable insurance that elevates your greatest asset - your people.
Take the first step toward healthcare affordability and employee satisfaction. Our team is ready to assess your current plan structure and initiate a strategic roadmap to optimized insurance solutions.