Maestro Health Unveils New Research, Identifies Disconnect Between Employee Healthcare Literacy and Employer Involvement
CHICAGO--(BUSINESS WIRE)--Jan 23, 2019--Maestro Health™, the leading all-in employee health and benefits company, today released the results of its new data study, “What Employees Are Thinking About Healthcare.” Maestro Health surveyed 1,000 consumers on their healthcare literacy as well as expectations around employer involvement in their health and wellness. Unsurprisingly, the results point to a disconnect between the two.
The survey revealed 35 percent of respondents either only somewhat understand, don’t understand or know nothing about their healthcare coverage, and 33 percent of respondents don’t understand their medical bills. Yet, employers are not providing adequate resources to address these issues. Forty-four percent of respondents say their employer doesn’t offer opportunities beyond health benefits for employees to meet their health goals, and 62 percent of respondents feel their employer does not serve as a resource for their healthcare-related questions.
“In the U.S., we spend more than $10,000 per person per year on healthcare, which adds up to more than $3.5 trillion. This is double what most other countries spend, yet regrettably, our average life expectancy is the shortest,” said Rob Butler, Chief Executive Officer, Maestro Health. “The market is at a tipping point. Understanding what people need and want when it comes to healthcare and benefits – and arming consumers with the tools to enhance their literacy – will help us improve consumers’ individual health outcomes and reverse those life expectancy statistics.”
According to the survey, healthcare costs and saving for retirement are the two top financial concerns for consumers today. Rightfully so, as 68 percent of respondents say that the cost of healthcare has increased in the past three years. In an effort to contain personal healthcare costs, 39 percent of respondents have, in the past year, chosen not to go to the doctor. It isn’t just employees who should be concerned: healthcare is causing employers to lose money, too. According to the Centers for Disease Control and Prevention, productivity losses from missed work cost employers $225.8 billion, or $1,685 per employee, each year.
Given the implications associated with employee health (or lack thereof), employers should strive to help improve their employees’ health and wellness. Packages that include fitness, nutrition and even sleep benefits are becoming more commonplace and have the potential to have a positive impact on the workforce.
“Unique knowledge of an employee base affords employers the opportunity to play a critical role in keeping employees happy and healthy while, at the same time, improving bottom lines,” said Sheryl Simmons, Chief Human Resources Officer, Maestro Health. “It is critical for more employers to think about how they can further advance their benefits programs to deliver better health outcomes at a lower cost for all.”
Maestro Health’s mission is to make benefits people-friendly again via its all-in, continuum of care model. Its self-funded offering puts employers back in control and reduces costs and complexity by making healthcare transparent and providing personalized care management.
To see the additional survey results, please click here.
About Maestro Health™ Maestro Health makes employee health & benefits people-friendly again by delivering an all-in platform that works together to improve the health of employees while lowering costs and administrative burdens for employers. Maestro Health owns and operates the three most strategic components of an effective employee health & benefits program: (me)SELF-FUNDED BENEFITS™, (me)BENEFITS ADMIN 2.0™ and (me)BENEFIT ACCOUNTS™. The flexible solutions are designed and unified on a tech-meets-service platform, maestroEDGE™, so customers can customize their own HR suite based on what works best for their unique needs—all to optimize and simplify the way employees and employers shop, enroll and live with their benefits.
To learn more, visit: www.maestrohealth.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005120/en/
CONTACT: PAN Communications for Maestro Health
Matthew Briggs, 617-502-4300
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: PRACTICE MANAGEMENT HEALTH PROFESSIONAL SERVICES HUMAN RESOURCES INSURANCE GENERAL HEALTH
SOURCE: Maestro Health
Copyright Business Wire 2019.
PUB: 01/23/2019 11:00 AM/DISC: 01/23/2019 11:01 AM