Your Health Plan Renewal is Coming
That time of year is coming. Here comes your broker. He has some bad news. Your group health insurance is going up. Your claims have accelerated since the pandemic has decreased. Everybody is getting that care they delayed during the worst of it. That’s almost a good excuse for your increase but it doesn’t explain the increase you got last year when everyone delayed care because of Covid-19 and the insurance companies had historical profits when they weren’t paying any claims (no one outside of Covid-19 patients were going to the doctor or hospital).
But the good news is your broker “shopped” all of the other carriers and came up with some alternative plans that require a smaller increase than your incumbent health plan. Or he used those competitive quotes to beat down the original renewal increase to something less, but still not favorable. Either way, it’s time for you to get off the “renewal increase carousel”.
You have the ability to take charge of your employee health plan. You have the ability to lower your cost and the high out-of-pocket deductible and coinsurances your employees can’t afford now. You need to know how and what your broker is actually earning by placing your business with the carriers and vendors he recommends. You need to know how much he’ll earn before you agree to anything. In fact, you need to know how the entire health industry is stacked against you. You need to look at things differently. You need to call us and start a no obligation conversation of how to change things in your favor beginning with this renewal. Click the button below to schedule a brief conversation with us to learn how to reverse the renewal increase cycle and start a trend of reducing costs each year. Or call us at (815) 742-2066 or email us at [email protected]