Group health premiums are calculated on two main factors: The age of the group members. For larger groups, the overall health or claim experience of the group. So unless you can make your group younger or healthier, it’s difficult to…
Did you renew your small group health plan with your current insurance carrier because your broker told you there was nothing better available? A little background: From 1996 to about 2003 there were many companies I could offer, and I…
Last week I sent letters to 100 business owners informing them of a new small group health insurance option available in TN and 1 person responded. I ran her a quote for Aetna’s “level funded” option for groups in TN…
The last innovation that actually offered business owners and employees a chance to reduce health insurance costs over the long term was in 2003 when Health Savings Accounts were introduced. If you haven’t been properly taking advantage of an H…
With the loss of “grandmothered plans” and the full implementation of Obamacare for the 2-50 employee market, it’s been a tough couple of years for small employers that want to continue to offer health insurance to their employees. With each…
Most small business owners I talk to think that when they renew their small group health insurance, they are somehow obligated or locked in for one year. This is not the case at all. The one year agreement is on…
A new phenomenon has reared its ugly head with some small group health insurance renewals in TN. I’m talking about a nearly $3000 per month premium for family coverage. I have run into several people who are actually paying $2700…
Some people I meet will trust me to the level of simply asking “what should I do.” They listen to my recommendations without suspicion and rely on my judgement. I always tell folks what I would do if I were…
Did you know that 60 percent of small business employees spend less than $1,500 a year on health care?2 And many times it’s for minor bumps and bruises or the occasional sick visit. And even still, since these are relatively…
They require very little if any regular maintenance by your employees. The only thing an employee really needs to be aware of during the year is how much is in the account. Because if he wants to pay a medical…