Save money on health insurance -- There is no doubt that the current system is no longer working, at least not for everyone. According to the Employee Benefits Research Institute, although there is a general overall stability in health insurance provided by the employer, with large employers who are not yet ready to enter their role in the system; The proportion of small companies with fewer than 200 employees provide health insurance in the last seven years fell from 68% in 2000 to 59% in 2007.
The impact of high health costs goes far beyond the insurance premiums. In fact, the insurance costs incredibly high health can be devastating. A 2005 study titled Health Affairs Market: Illness and injury as a contribution to bankruptcy, showed a link between the loss of health insurance and the rising medical bankruptcy. The researchers noted that there are four major problems, with financial safety net for the American families that are facing the disease:
First, even short interruptions in insurance coverage can be lavish and should not be benign. While 45 million Americans are not insured at any time, spelled out a lot more experience without coverage. We found little evidence that such gaps were volunteers. Only a handful of physicians debtors with a gap in coverage had chosen to waive insurance because they had perceived no need for them; The overwhelming majority had found that the coverage was prohibitive or unavailable. The deprivation suffered by many debtors, without food, telephone service, electricity and medical care, give loans to the requirements of this coverage was prohibitive and in the common perception believe that bankruptcy is an "easy way out".
Secondly, many health insurance companies are too poor to face serious ailments. We doubt that such a subaseguro reflects the preference of families for the risk; Few Americans have more than one or two options of health insurance. Many families are bankrupt for medical spending among the "catastrophic" threshold high deductible plans well reassured that employers are becoming more popular. In fact, even the comprehensive plan available to us through Harvard leaves teachers in danger disbursement is as great as that indicated by our medical debtor's expenses.
Thirdly, even a good employment based coverage sometimes does not protect families because the disease can lead to a loss of employment and the associated loss of coverage. Jobs lost, of course, leave families even without health insurance if they are at their weakest financial situation.
Finally, the disease often leads to financial disaster due to the loss of income and high medical bills. Therefore, disability insurance and health care are also critical to the financial survival of a serious illness.
Considering this situation, where an outflow in medical coverage can have catastrophic effects, what can you as an employer of small businesses that protect their employees' access to affordable health care without risking bankruptcy?
As pro-health proactive
How much of the disease and injury is avoidable people suffer? Up to 70% of it. Surprised? According to a study in the journal Health Affairs, the United States under 19 industries last, when it comes to reducing preventable deaths in patients younger than 75. One might think that the Americans, idea wellness programs. Companies that have come to the band are reported:
A reduction in the use of health care and health care costs.
Low absence rates.
Reduction of injuries and compensation for work / disability claims.
Higher morality and loyalty.
Higher productivity.
Wellness programs at work does not have to be complex or all inclusive, but should promote overall health and exercise and the problems that have adversely affected the health and productivity of employees than smoking have been shown to weight, stress, drug abuse , And preventable diseases such as influenza and other diseases that can be prevented with a vaccine.
Shop
Yes, as elementary as it sounds, the advice his mother gave him about getting shopping is also true here. Find the best deal, you can and work from there. Start with the internet to ask and ask your local independent insurance agent.
Join the audience
One of the best ways to lower premiums is to join a health insurance group. In essence, the way it works is the largest group, the lower individual premiums. Depending on the size, your business can be large enough to form a group of yourself. If not, or if your group is too small to activate any cost savings, you can partner with other companies to increase the size of your group. As long as you associate with others in their own state, should not be a problem.
Save for a healthy future
Today is one of the most popular alternatives is to consider the savings for health. These are tax-free accounts used to pay for certain medical costs. Both contributions to the account and disbursements are tax-free for both the employee and employer, and individuals can deduct tax returns on their forms 1040. By using the claim, you can lower the cost of health insurance small businesses while employees give a good tax reduction. In addition, these accounts can bear interest and are fully portable.
In order to qualify to set up a health savings account, you must already have a health insurance with a high deductible and available to their staff. According to the United States Department of Personnel Administration, an insurance deductible health high for an annual minimum deductible of $ 1,100 for the insured and $ 2,200 for the insured and his family and an annual maximum of $ 5,600 for policyholders and $ 11,200 for the insured And his family.
Those who benefit the most from the health benefits are those who are in good health and do not usually consult doctors. However, for those who have more regular or in-depth medical needs, they can be supplemented with other more specific insurance options.
Reduced cost through coverage
If everything else has failed, it may be necessary to cut the hedge. This does not necessarily mean a cut wholesale profits, but this is usually what the term "court reporting" means and making surely reduce the cost of health insurance for your business. It can also mean the cost burden to change you employers to their employees. One thing is certain-and why save this for last resort is that this is a very unpopular thing that will be with their employees.
Be sensitive to the needs of their employees and see what areas of the health benefits they need the most. If one can cut these areas, the impact of cuts in people that minimizes. This also allows you to maximize an idea of how to maximize coverage while minimizing costs as much as possible.
Bottom line
There are a number of individual things that you can do to reduce the cost of health benefits, but also consider a combined approach with a wellness program, as well as one or more of the cost-cutting alternatives. If you treat this right to deal with the issue of health at a number of levels rather than one, your employees will be happier and healthier because of it and more productive as a result.
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