How employers can fight the price crisis.

Abstract

The US is in a health care price crisis that significantly impacts employees, employers, and public purchasers. With employer-sponsored health insurance covering 60% of Americans as of 2024, plan sponsors must consider policy advocacy as a part of their long-term cost containment strategy. Plan sponsors can leverage membership in national and regional health care business coalitions, such as The ERISA Industry Committee and the Employers' Forum of Indiana, for policy advocacy and education at federal and state levels. Coalition successes include Texas House Bill 711, which combats anticompetitive contracting practices, and Indiana's House Enrolled Act 1259, which enhances pricing transparency. Although navigating policy advocacy may seem daunting, Catalyst for Payment Reform emphasizes the importance of aligning public policy strategies with procurement/purchasing strategies. By engaging in tailored advocacy efforts, plan sponsors can help lower health care costs, improve access, and ensure sustainable benefits for their plan members.