This edition of Labor 131, presented by the National Labor Office of Blue Cross and Blue Shield Association, features Merrilee Logue, Executive Director of the NLO and Mark Talluto, Vice President of Strategy, Marketing and Sales Programs, who joined the America's Work Force Union Podcast to discuss healthcare affordability. They explored the definition of affordability, current market trends and Blue Cross Blue Shield's initiatives to address rising costs.
Healthcare affordability means different things to various stakeholders. Logue explained that for consumers, it's about managing out-of-pocket costs without skipping care, while for employers and unions, it involves controlling premium increases without sacrificing competitive wages. Talluto said that despite making progress to expand access to quality care, rising costs continue to challenge affordability and accessibility nationwide. In 2023, the average annual premium for employer-sponsored family healthcare coverage rose seven percent to nearly $24,000, Logue added.
Blue Cross Blue Shield companies are actively working to implement solutions that address the root causes of affordability. Talluto discussed how they're engaging with lawmakers at local and national levels, proposing policies to streamline administrative processes, improve efficiencies and enhance patient outcomes. If enacted, these reforms could reduce healthcare costs by $767 billion over the next decade. Logue added that the organization is tackling rising drug costs through initiatives like Synergie Medication Collective and Civica Rx, which focus on connecting patients to optimal care sites and reducing the cost of generic medications.
To combat rising costs, individuals are encouraged to take advantage of primary and preventive care, which is often covered at 100 percent. Logue said choosing a primary care physician, even if not required by the plan, is crucial for managing health, medical costs and navigating future healthcare needs. Talluto explained that from an employer's perspective, offering quality healthcare benefits is essential for retaining talent, with 17 percent of workers leaving their jobs last year for better healthcare benefits.
Listen to the full episode for more insights on healthcare affordability and Blue Cross Blue Shield's initiatives.
America’s Work Force is the only daily labor podcast in the US and has been on the air since 1993, supplying listeners with useful, relevant input into their daily lives through fact-finding features, in-depth interviews, informative news segments and practical consumer reports. America’s Work Force is committed to providing an accessible venue in which America's workers and their families can hear discussion on important, relevant topics such as employment, healthcare, legislative action, labor-management relations, corporate practices, finances, local and national politics, consumer reports and labor issues.
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