Bridging health equity gaps through health insurance

The U.S. health care system has long struggled with health disparities, where certain populations face barriers in accessing quality health care due to factors such as race, ethnicity, socioeconomic status, and geographic location. A critical aspect in addressing these gaps is ensuring that businesses and their diverse workforces have access to affordable health insurance and comprehensive care options that support everything from physical health to mental wellness of employees. Working alongside doctors and businesses, insurers can understand the local needs and challenges faced by small business owners and their employees, collaborating to develop solutions that bridge those gaps and lead to better health outcomes.

Why health equity matters

Health disparities can lead to decreased economic opportunities, perpetuating cycles of poverty and disadvantage. “For businesses, these consequences have high impact,” adds Dr. Kelli Tice, vice president of Medical Affairs and Chief Health Equity Officer of Florida Blue, “they affect an employee’s quality of life, which in turn impacts their productivity and the overall health of a business’ bottom-line.”

Unfortunately, many businesses struggle to afford health insurance for their employees. This is where companies like Florida Blue play a vital role in bridging health disparities by collaborating with small businesses and community-based organizations. For example, helping to improve employees' health literacy- the understanding and navigation of health care, and providing affordable health care coverage options to employees can provide financial protection. This, in turn, helps people get the care they need without incurring heavy expenses.

Making health care more affordable for diverse businesses

To improve affordability for businesses and their diverse employees, it is critical to explore different models and support for business owners and their employees. “Florida Blue offers a range of health solutions such as plans and support services for small groups, as well as individual coverage for part-time employees, gig workers, and their families,” said Dr. Tice. As an employer, investing in employees, even those who are not on their employer’s group plan, can positively impact productivity. “A great place for a business to start exploring health plan options is to work with one of our licensed agents,” continued Dr. Tice.

Things to consider:

Health coverage options

Understanding what plans are available for small businesses can help drive health equity. This includes value-based care models which increase access to care and focus on patient-centered care. These models incentivize health care providers to deliver high-quality, cost-effective care. A study by the National Institute of Medicine found that value-based care models can reduce health care costs by up to 20%.¹

Educational opportunities

Partnering with your insurance company, like Florida Blue, to provide health insurance education sessions with employees helps increase awareness of available health plan options, community resources, financial assistance, mental well-being support and more to promote overall wellness and improve health outcomes.

Virtual care services

These services are convenient and can increase access to health care, particularly in rural or underserved areas.

Employee wellness initiatives

Employee health-focused programs can help reduce health care costs by promoting healthy behaviors and helping to prevent or manage chronic health conditions.

Subsidies and tax credits

Government offers can include subsidies and tax credits to diverse businesses to help offset the cost of health insurance.

The bottom line

By working with a trusted agent to understand affordable health insurance and comprehensive care options, businesses can play a critical role in reducing health disparities. “Bridging health equity gaps needs to be a multifaceted approach that requires thorough analysis of the appropriately defined target population to understand how small businesses, community partners, and health care leaders can create intentional and collaborative health solutions for diverse businesses and their employees,” said Dr. Tice.

Find out how Florida Blue can help your business and employees. Talk to your broker or a Florida Blue agent for more information.

References

¹National Institute of Medicine. (2012). Best Care at Lower Cost: The Path to Continuously Learning Health Care in America. https://www.nationalacademies.org