Tobacco Users Spend LESS on Healthcare? The Shocking Truth #healthcare #tobacco #data
What feels right and what data proves are often two different things.
For example: smokers on your health plan.
Many companies charge tobacco users higher premiums, intending to discourage them from smoking, to prevent future health claims. But as Taylor Orton, CEBS shares in the clip below, tobacco users can often cost an employer's health plan less than non-users.
It sounds wrong, but 20 years of data shows it's true. The major healthcare costs from smoking typically don't hit until after age 65, when the financial risk has shifted to Medicare.
Taylor's point isn't to advocate for smoking, but to challenge employers and consultants to make sure that health plan strategies are based on verified data, not just assumptions.
Check out the full conversation on the latest episode of Self-Funded with Spencer, available now on YouTube, Spotify, and Apple Podcasts.
