Low-wage earners in a company face a larger burden in access to care compared with high-wage earners, but not all employers recognize this and design benefits with this in mind, said Thomas Parry, PhD, president and founder of the Integrated Benefits Institute.
Low-wage earners in a company face a larger burden in access to care compared with high-wage earners, but not all employers recognize this and design benefits with this in mind, said Thomas Parry, PhD, president and founder of the Integrated Benefits Institute.
Transcript
How can benefit designs impact employees differently based on their socioeconomic status?
You know, we’re about to release research showing that low-wage workers have significant barriers to care, and therefore those barriers to care reduce healthcare, and lead to more lost time and more lost productivity in the workplace.
I think what employers need to do is to recognize that people’s income have a lot to do with access to care, and they need to change their plan designs to support employees that are at the low-wage end get healthcare that doesn’t burden them inappropriately financially compared to high-wage workers.
Are employers aware of how those benefit designs and strategies might impact their employees in different ways depending on their salary?
You know, I think employers are aware, but I don’t see they’ve done a great deal with regard to changing plan designs to recognize different income levels. And I think that’s really important. I think those employers that understand that all their employees are important—not just the high-wage earners, but all their employees contribute to the success of their business—are the ones that are realizing they have to change plan design to recognize income and give access to care for low-wage workers in a way that perhaps there are barriers today.
Hospitals Report Declining Cash Reserves, Increasing Reimbursement Delays and Denials
December 1st 2023A new report highlighting the twin pressures hospitals have faced over the last 18 months shows that as reimbursement delays and denials increased and cash and investments decreased, operating expenses have risen sharply.
Read More
Oncology Onward: A Conversation With Thyme Care CEO and Cofounder Robin Shah
October 2nd 2023Robin Shah, CEO of Thyme Care, which he founded in 2020 with Bobby Green, MD, president and chief medical officer, joins hosts Emeline Aviki, MD, MBA, and Stephen Schleicher, MD, MBA, to discuss his evolution as an entrepreneur in oncology care innovation and his goal of positively changing how patients experience the cancer system.
Listen
Biosimilar Substitution Can Reduce TCOC, Improve Provider Performance in Value-Based Payment Models
November 20th 2023A simulation study estimated the impact of biosimilar substitution on total cost of care (TCOC) and provider financial performance in the final performance period of the Oncology Care Model.
Read More
AMA Continues Call for Medicare Payment System Fix During Interim Meeting
November 20th 2023The American Medical Association (AMA) is continuing to urge Congress to stop the impending 3.4% cut to physicians, and other organizations also weigh in on the pros and cons of the 2024 Medicare Physician Fee Schedule.
Read More