Insurance companies NOT hurting for money….record profits this year

Even though I’m an Independent Insurance Broker, I am not a fan of most of the insurance carriers.  The effects of NOT having health insurance plan, or Group Health Insurance plan, could be disastrous, economically.  Honestly, Health Insurance is a necessary evil.  If you are an employer, and you offer a Group Health Plan, you need to be a good consumer, and have a broker that not only specializes in Employee Benefits, but one that you trust, so they can give you sound advice.

For 2018, some of the largest insurers in America are recording record profits, being led by UHC, United HealthCare.  UHC is well on their way to be the largest insurance company in the United States, with 2018 profits expected to be well into the billions….yes billions

Group Health Insurance plans are still expensive for employers and employees

Even with ALL of the insurers having big profits, the Employee Benefit plans for companies are still going up and I think I have an explanation.  I believe that because Health Insurance is not mandatory for Individual people any longer, the insurance companies are “hedging their bet” with banking more money, in anticipation of losing some of the profitability with the change in the #ACA, that Trump made.  Being a Benefits Broker, its hard to meet with #HR Directors, CFOs, and business owners, and bring them bad news each year of the continued increases, knowing that the insurers are making so much money.

In these times its even more important to consult with a Benefits Specialist

You have no idea how many times I’m called out to a company by someone in charge of their Employee Benefits, asking if I would be able to help them understand what they have and why its so expensive.  In most of these situations, the company is either on a plan that does not fit what they need, or they are wasting their money on plans that are too rich.  In both cases, its because they don’t have a relationship with their broker, or they have a broker that tries to be an expert at various types of insurance.  Either way the Small Business #Employer and their employees are the losers.

Find an Group Health Insurance expert…its free, and it can really make a major difference in not only what you spend, but the value you receive.

 

Steve Brauer, Principle, Brauer Insurance Services,  www.brauerinsurance.com.  (877) 421-4325

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