Health Insurance

How Florida Healthcare Stacks Up

阅读时间

8 Minutes

作者：

Team Curative

已发布

Apr 17, 2024

Finding proper healthcare for your workforce can be difficult. Between nationwide primary care provider shortages and the difficulty of navigating confusing health insurance for companies, employers must consider the challenges that employees face and offer health insurance that best meets their talent’s needs. Floridians especially experience more financial hardship than the national average when accessing healthcare. According to a recent study, the current supply of family medicine physicians in Florida only meets 62% of the demand. By 2030, an additional 22,000 physicians will be required in Florida to meet the demand throughout the state.

To make matters worse, the high cost of the US healthcare system often prevents people from getting necessary medical care. Regardless of their income level or insurance quality, numerous Americans need more coverage and affordability. The resulting gap leads to postponed or neglected care, substantial medical debt, and deteriorating health.

Let’s review the current state of health insurance Florida employees experience and what employers can do to improve the quality of life of their talent.

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Floridians are priced out of accessing health insurance

The landscape of health insurance for companies is constantly evolving, with new options and plans becoming available regularly. To pick the best health insurance option, employers need to understand the landscape of healthcare needs.

In 2023, Curative, in partnership with Health Analytics and Insights Group (HAIG) surveyed the three largest cities in Florida and compared the results to national figures to better understand people's experiences with employer-based insurance plans. The survey aimed to assess how current cost-sharing arrangements impact utilization, overall health, and well-being and to identify the primary barriers to accessing care and treatment.

The survey results can be divided into three main themes: affordability, engagement, and simplicity.

2023 Employee Survey Results

Affordability

55% of Floridians vs. 41% of Americans with employer-based health insurance find out-of-pocket costs to be expensive or more than they could afford if a significant medical event occurred or if they were diagnosed with a chronic illness.
64% of Floridians vs. 55% of Americans use alternative payment methods to help pay for health care costs, including dipping into savings, cutting back on basic items like household essentials, food, and clothing, and increasing their credit card spending.
59% of Floridians vs. 50% of Americans delayed or deferred care to avoid taking on medical debt.

Engagement

1 in 4 (26%) Americans skip preventative health services; in Florida, it’s closer to 1 in 3 (32%).
40% of Floridians vs. 31% of Americans say they must jump through hoops to get the care they need.
51% of Floridians vs. 42% of Americans reported not seeing a doctor in the past twelve months because of concerns about out-of-pocket costs.
46% of Floridians vs. 40% of Americans had to miss work to address health issues.

Simplicity

55% of Floridians vs. 46% of Americans say they struggle to anticipate out-of-pocket costs.
37% of Floridians vs. 29% don’t understand which doctors and hospitals fall within their in-network providers.
42% of Floridians vs. 33% of Americans say they have trouble navigating their insurance coverage.

The survey results are clear: Floridians struggle to find affordable healthcare. Comprehensive health insurance for companies can support employees within this challenging environment.

The cost of inaccessible healthcare to Florida employers

When employees are priced out of healthcare, they often face difficult decisions about seeking medical care. According to a recent survey, over half of workers devote more than 10% of their monthly household budgets to deductibles, coinsurance, and other payments for care. High healthcare costs can deter individuals from visiting healthcare providers for check-ups and preventive care. This reluctance to seek early intervention and preventive measures can harm their health and increase healthcare costs in the long run.

Skipping preventive care means that potential health issues may go undetected or untreated until they become more severe and costly to manage. For example, a person with diabetes who cannot afford regular check-ups and medication may end up in the emergency room with a related crisis. Similarly, a lack of access to affordable mental healthcare may result in individuals not receiving early intervention for mental health conditions, leading to more severe and costly treatments later on.

The impact of employees being priced out of healthcare extends beyond individual health outcomes. It also affects employers, as they may face higher healthcare costs for their employees due to more severe health conditions and a greater need for medical interventions.

Addressing the issue requires a multi-faceted approach. The solution may include policies that make healthcare more affordable and accessible, such as expanding insurance coverage, increasing access to low-cost or free clinics, and promoting preventive care and healthy lifestyle choices. By addressing these barriers, we can help ensure that individuals receive the care they need, reduce healthcare costs, and improve overall health outcomes.

Low healthcare engagement impacts the workforce

Access to healthcare is a critical component of maintaining a healthy workforce. When employees cannot access healthcare, whether due to a lack of affordable insurance, the unavailability of healthcare providers, or other barriers, it can lead to increased talent absenteeism and presenteeism.

Employee absenteeism occurs when employees cannot work due to illness or injury. Without access to healthcare, staff members may delay seeking treatment for their ailments, leading to prolonged sickness and more days off work. Delayed care not only impacts the individual's health but also affects the productivity and efficiency of the workplace. When workers are absent, tasks may be left incomplete, deadlines missed, and overall workflow disrupted.

On the other hand, presenteeism occurs when employees come to work despite being unwell. Sick working time can be due to the fear of losing pay, job security, or a sense of duty to their colleagues and employers. However, when employees work while sick, their productivity is significantly reduced. They may be less focused, make more mistakes, and take longer to complete tasks. Additionally, they risk spreading illness to their coworkers, further impacting productivity and increasing absenteeism in the long run.

If conditions are left untreated, the inability to access healthcare can lead to more severe complications. The healthcare complications, in turn, can result in extended periods of absenteeism and increased healthcare costs for both the individual and the employer.

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The high cost of health insurance for companies in Florida

Employers today face a significant challenge. Despite being offered healthcare benefits, many employees are not effectively engaging with these services. The lack of engagement means that employees are not receiving the care they need, and employers are paying for an unused benefit. Not using healthcare benefits is costly for both parties and can lead to an unhealthy and less productive workforce.

Employers should seek out healthcare coverage that is more affordable, easy to engage with, and simple to navigate. By offering plans that are more accessible and user-friendly, employers can encourage greater employee utilization of healthcare services.

Affordable and accessible healthcare coverage can also help employers attract and retain top talent. Employees are more likely to stay with a company that offers comprehensive healthcare benefits that are easy to access and use. Offering impactful benefits can lead to lower turnover rates and higher levels of employee satisfaction.

Offering health insurance for companies is often seen as a critical benefit in attracting and retaining employees. Doing so can lead to increased employee engagement, better health outcomes, and a more effective workforce, benefiting both employees and employers alike.

Curative: a comprehensive health insurance for Floridians

Curative is a new kind of employer-sponsored health insurance that provides comprehensive healthcare while prioritizing affordability, engagement, and simplicity.

No copays. No deductibles. No...really. Curative is changing the way we view health insurance.

Curative provides top-notch primary care to Floridians both in-person and virtually. Learn more about Curative’s health insurance for companies by visiting our website.

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