Swift Kennedy on How to Retain Employees with Affordable Health Plans With inflation rates at a 40-year high, most business owners are trying to cut costs in every way possible. But even though group health insurance rates have increased dramatically over the last year, employers realize they must continue to offer high quality benefits in order to retain workers in this tight labor market. So, how can employers walk the tightrope between cutting their health insurance costs and satisfying employee expectations? Jerry Calistri, President and CEO of the insurance brokerage firm Swift Kennedy & Associates, suggests that business owners consult with an insurance brokerage firm to help solve this quandary. “When it comes to group health plans, striking the right balance between quality and affordability is what good brokers do best,” said Calistri, whose brokerage firm specializes in group employee benefits in the mid-Atlantic region. To help companies strike that balance, Swift Kennedy offers clients multiple-year strategies that can include both traditional benefit plans and alternative options, such as level-funded plans. The agency also provides clients with data analyses, as well as Benchmarking reports showing what similar companies offer their employees. In addition, the firm works with many different carriers in order to negotiate highly competitive quotes for clients. Employee Incentives Since motivated employees usually seek the best medical care available at the lowest price, Swift Kennedy provides clients with educational seminars to inform workers about their benefits and promote employee engagement. Many of the benefit plans that Swift Kennedy offers clients also feature services that incentivize employees to participate more fully in their healthcare decisions, while keeping their costs down. For example, some policies include wellness programs featuring professional coaching, on-site assessments, and other services designed to encourage exercising and other healthy activities, since healthy lifestyle choices can reduce an employee’s medical costs. More and more plans now also include telemedicine, which allows employees to have online medical appointments instead of in-person doctor visits for certain medical conditions. These popular programs are convenient for workers and highly cost-effective for employers. In addition, some policies offer prescription benefit management programs, which incentivize employees to select less expensive generic and mail order drugs instead of brand name ones. “Getting high quality health insurance at a reasonable cost is especially important during this time of inflation and record high employee turnover,” said Calistri. “That’s why Swift Kennedy works hard to provide employers with insurance strategies and solutions that not only help them retain workers, but also help boost their bottom lines!”