When was the last time you thought about your group health insurance and benefits offerings? Maybe it’s not something you think about every quarter (or even every year) but in today’s economy, employer-based health insurance and benefit packages have never been more important. The Growing Cost of Group Health Insurance According to the National Business …
This time last year we never suspected that wearing a face mask in public and social distancing would become part of our new normal. Concerts, festivals, and sporting events have been rescheduled or canceled, countless businesses have been forced to permanently close, and even Disney World temporarily shut their doors to the public. With health …
Offering health insurance to your employees may sound like an overwhelming process — but it doesn’t need to be. Once you’ve identified your firm’s needs and know the basics of group health insurance, the rest is easy. So, what do you need to know first? What’s the difference between group and individual health plans? According …
According to the nonprofit National Business Group on Health (NBGH) survey 2019 Large Employers’ Health Care Strategy and Plan Design, the cost of employer-based health insurance is poised to reach roughly $15,000 per employee this year, a 5 percent increase from 2018. While this is not unusual, it is forcing businesses to get more creative …
The U.S. unemployment rate is now at its lowest levels since 1969. This strengthening of the American job market has given many workers the confidence to reassess their employment situations in a way that they may not have felt comfortable doing ten years ago. Employers are realizing that it is becoming harder to attract top …
As group health insurance costs continue to increase, many employers are looking for new, creative ways to save money while still providing their employees with coverage. Reference Based Pricing Reference Based Pricing is a rapidly growing strategy that a number of employers are using to save money on group health insurance costs. This technique gives …
The Group Health Insurance industry continues to change with premiums continuing to rise. You have probably changed insurance carrier’s multiple times hoping to secure for the deal of the year. So, the question is: Is that all there is? Change carriers and tweak my benefits? What To Consider In Your Group Health Plan Decision Not …
We’ve all heard of Health Insurance, but it’s not uncommon to hear the term “Ancillary Benefits” in the same sentence. But while everyone is familiar with health insurance, not everyone is equally familiar with ancillary benefits. So, what exactly are they and should you be offering them to your employees? First and foremost, while health …
Group health insurance is usually provided by an employer and can cover just the employee or even the employee’s spouse and children. Not providing group health coverage could be a major misstep for some companies regardless of size, as there are a number of benefits to providing Group Health Insurance coverage. 1. Lower Costs Than …