Small Business Group Health Insurance plans to increase in 2019, reasons and solutions

Many were glad when the Individual Mandate “tax” was repealed by Trump last December, hailing it as a victory for people that did not want to be forced to purchase Health Insurance.  The #CEO of AHIP, Americas Health Insurance Plans, that represents Group Health Insurance carriers, is warning that pricing will increase substantially next year.  He blames the repeal of the #ObamaCare law mandating everyone to be insured, as the biggest reason.  He says that the industry believes that healthy individuals will be leaving the insurance market, since they don’t feel they need it.

All plans are ObamaCare plans

Most of the public does not realize that most Health Insurance plans in our country are ObamaCare plans, whether they are purchased from Covered CA or #SmallBusiness plans from your employer.  #ObamaCare plans is actually a slang term.  What it means is a plan that is #ACA (Affordable Care Act) compliant.  Its just easier to say “ObamaCare”.  Group Health Insurance plans are almost always ACA compliant, depending on how they are structured.  The Small Business Group Health Plans have increased in price about 75% over the last 8 years, since ObamaCare began.  A trend that is not sustainable.

Group Health Plans do have a strategy to make them more affordable

The first thing I ask business owners, #CEOs, #CFOs, #HRdirectors, is if they have had a conversation with their Group Health Broker about creative strategies to help mitigate the cost of their Employee Benefits and Group Health Insurance.  If I get a blank stare, I pretty much know they either have a broker that does not specialize in Group Benefits, or that the broker is asleep at the wheel.  Strategies can include bringing in comprehensive products to “underfund” the deductible, setting a defined contribution budget, and even looking at self or partially #SelfFunded plans.  I don’t doubt prices will continue to increase, whether it be 2019 or beyond.  Having someone on your side to strategize your Employee Benefits and Group Health Insurance plan can make all the difference in the world.  How great would it be to shave off 15-20% of your monthly Group Health costs.

Brauer Insurance exists for one reason….to show #Employers that there may be a better way to offer #GroupBenefits, and that now may be the time to enlist the help of a Specialist.  www.brauerinsurance.  (408) 421-555

By | 2018-05-04T14:21:05+00:00 May 4th, 2018|Uncategorized|0 Comments

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