On this episode of the America’s Work Force Union Podcast, Michelle Zettergren, President of Labor and Chief Sales and Marketing Officer at MagnaCare, shared some of her 30 years of industry knowledge and spoke about innovative strategies for unions to implement in order to overcome the challenges of rising healthcare costs while managing their expenses.
Zettergren highlighted the alarming increase in healthcare costs, noting that family coverage is nearing $24,000 in 2024. She attributed these rising costs to factors such as inconsistent service pricing, new high-cost medications and a lack of member compliance with preventive care. Zettergren emphasized the importance of understanding these drivers to effectively address the financial strain on labor funds and their members.
To combat escalating costs, Zettergren discussed various strategies unions could adopt, including contracting directly with providers and focusing on centers of excellence. These approaches ensure members receive high-quality care at competitive rates, she said. Zettergren stressed the importance of member education and wellness programs to promote healthier lifestyles and reduce long-term healthcare expenses. By implementing these measures, unions can maintain robust member benefits while managing costs.
Zettergren also explored the potential of gene therapy and weight-loss drugs like Ozempic, which offer promising health benefits despite their high costs. She advised labor funds to carefully evaluate coverage options for these treatments and to consider wellness programs that support behavioral and lifestyle changes. By staying informed and proactive, unions can navigate the complexities of modern healthcare and continue to provide valuable support to their members.
Listen to the full episode to hear more from Zettergren about managing healthcare costs and the innovative solutions available to unions.