For small and medium sized employers there are strategies that can be put into place that will reduce the overall cost of #EmployeeBenefits for your people. When people talk about managing the costs of #GroupHealthInsurance, they usually mean either downgrading the coverage to a cheaper plan or having the employees themselves pay more each month for their coverage. Most employers have already done that…and its not a long term solution. The #HealthInsurance coverage suffers and the employees are not happy, especially when they have to utilize services.
Attract and retain employees by increasing their #Benefits with a strategy
There are #strategies that you can put into place that will not only decrease the cost of the benefits, but make your benefits even richer for the employees. Many products are designed to accentuate the core Group Benefits that you are offering to your employees. They’ve been called #VoluntaryBenefits, Ancillary, Gap Plans and other names.
When products accentuate Group Benefits, I like to call it “underfunding”
The sole purpose of having Employee Benefits, specifically Group Health Insurance, is to make sure you’re covered if you have health issues that need to be addressed. If your Health Plan has a ridiculously high deductible, its pretty much useless and out of reach to most of us. They like to call these catastrophic coverage. The plan will cover you if you have something major happen to you, so you won’t go broke. There are ways to use other products to help “underfund” a traditional Group Health Plan and they are surprisingly affordable. By bringing in that strategy, you create real value for your employees, and making it so they can actually use their Employee Benefits. Our strategy is basically a mind shift to the FINANCING of healthcare.
With NO expectation of doing business, we would be happy to chat with you about how to implement some of these suggestions. Steve Brauer, Principal, Brauer Insurance (877) 421-4325