One of the most frequently voiced concerns we hear from our group health insurance customers, is how substantially premiums have increased for employee health benefits. And you couldn’t be more right. Many businesses who were just getting comfortable with their monthly premiums, were shocked upon hearing that their renewal rates were exceedingly more expensive than anticipated.
We could dedicate an entire article to why group health premiums have seen such a sharp increase in the past two years. For now, however, let’s look at what today's smaller businesses can do to help keep their group health insurance premiums manageable and affordable.
Take Time to Understand Your Plan
If you're the owner of a small business, spending hour after hour on employee healthcare is something that can quickly invade both your profits and productivity. Still, it's crucial to know exactly what you're paying for when it comes to your staff's medical benefits. If you have not looked closely at your plan, this would be a good time to get in touch with an agent who can help you understand where you may be over-paying.
Don’t Blindly Renew without Exploring Options
Automatically renewing your existing plan without first reviewing all your options, is perhaps the perfect way to waste hard-earned money. There are expanded options available to businesses under the new system of health care reform, though not every agent will have the knowledge or integrity to share them with you. From individualized groups to innovative combination plans, knowing your options can literally save you tens of thousands of dollars depending on the size of your business.
Work with an Agent Who Understands the New System
We hear stories all the time about agents who have never once taken the time to discuss the Affordable Care Act with their group clients. This is madness, considering how drastically the way you go about offering your employees health and medical benefits has changed. If your agent isn't proactively addressing the needs of you and your staff, it's time to find an agent who thoroughly understands the significance of healthcare reform on businesses.
Free Business Health Insurance Consultations in Chicago
Before you automatically renew an existing health plan that you don’t fully understand, we strongly encourage you to sit down and talk with us. Our staff of licensed agents is well-versed in all aspects of ACA/HCR, and can ensure that you're in a plan that's not only affordable, but one that's built around the realistic health concerns of your team.
Call Premier today at 800-369-0287 to schedule a meeting and learn more about how you can use new group concepts to lower your monthly group health premiums, with no sacrifice in coverage for your employees.