Considering that the vast majority of Americans live paycheck to paycheck and 40% struggle to cover a $400 emergency expense, it’s no wonder why so many employees consider themselves functionally uninsured despite being covered by their employer’s health plan. The standard employer-sponsored health plan comes with nearly an $8,000 out-of-pocket expense. And, when an employer’s price tag to purchase that insurance for a family now exceeds $20,000 a year, no HR professional likes to hear that the employee “benefit” the company offers has become an employee “liability.”
