While the President was signing that executive order, I was spending time with a different kind of executive: HR Pros from across the U.S. who met to share best practices at the annual Associated General Contractors of America conference. It sounds like a niche group—but the problems these executives face mirror those of companies all across America.
I partnered with Barriere Construction executive Chris Williams to present tangible strategies for creating a competitive edge with a health and welfare plan. We spent a lot of time discussing how to manage the “supply” side of health care – and attacking the root causes of health care costs. Barriere is a leader in developing these strategies and an early adopter of tactics like population health management, as well as on-site clinical resources for both occupational and non-occupational health. The company also makes data-driven health care network decisions.
At our session and others, it’s clear that what is top of mind for most HR Executives is the role they play in balancing the needs of the employee with the financial priorities of their business. Contractors face an extremely tight labor market, and keeping good employees is key to them successfully winning bids for major projects. For executives in these types of companies, a well-run health plan is not a lofty goal, but has literally become a core business strategy. After chatting with many of them, I expect to see a growing comfort level with things like captives for health plans. These are a growing risk management strategy for mid-sized employers.
It remains to be seen the exact consequences of the President’s executive order. It may accelerate the demise of the public exchanges – and in turn select against employers. Luckily, the employers I met with at this conference appear to be up to the challenge.
