With the loss of “grandmothered plans” and the full implementation of Obamacare for the 2-50 employee market, it’s been a tough couple of years for small employers that want to continue to offer health insurance to their employees. With each renewal, employers have to choose between paying higher and higher premiums, or raising their employees out of pocket costs to unpractical levels. Back in the 1990’s, most employees would have rebelled if their deductible was over $1000. Now, $5000 deductibles and higher are becoming the norm.
I recently met with a business owner who finally decided he needed to address his rising health insurance costs when his family’s own personal premium was nearly $3000 per month. That sounds like a mortgage payment for a luxury beach house to me, not a health insurance premium.
But there is something you can do right now to lower your small group health insurance premiums in TN. If you have at least 5 employees, I can offer you a “Level-Funded” plan from a major insurance carrier, with an outstanding doctor/hospital network. From my personal experience working with small groups, I have seen small group premium savings up to 25%. Sometimes as much as $4000 per month from renewal premiums. That’s almost $50,000 per year savings to you and your employees. Go to http://www.grouphealthtn.com/watch/ to learn more about this small group opportunity.
And if the premium savings is not outstanding enough, you will also be eligible for a refund of excess premiums at the end of the year of claims are less than expected.
This is one of the best opportunities I’ve seen in a long time for small employers in TN to lower their group health insurance premiums.
And as always, if you aren’t taking advantage of an H S A, you are missing another great opportunity to lower your out of pocket expense.
Call Dixon Advisory Group at 615-376-8899 for more information.