Renewal rate too high? What to do about your group plan

Posted by Emily Kubis on Wed, May 23, 2018 @ 08:05

Before you consider cutting your group plan benefits, read this.

If you’re a fully-insured employer who just received a huge rate hike on your group plan renewal, you may be considering cutting benefits or changing your plan design.

Instead, you may want to consider a change to your funding strategy. Employers have more choices than they realize when it comes to financing their employees’ healthcare. Purchasing a fully-insured health plan may be what you’ve always done, but there are a lot of alternatives that aren’t as complex as they seem.

These strategies can potentially save your organization tens of thousands of dollars, while allowing you to actually expand benefits options for your employees.

(More: How a 40-employee group saved $100,000 with reference-based pricing.)

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Tags: health insurance small employers, Self-Insured, self-insurance, self-funded, reference based pricing, renewal rate

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employer healthcare freedom
employer healthcare freedom