Jan 30
Keeping Costs Low on Business Health Insurance
Cutting the costs of health insurance for your employees usually translates into cutting the benefits you offer. Private carriers charge incredibly high premiums and often require an intense amount of medical information from each employee. One employee with a preexisting condition or prone to illness could ruin it for everyone, causing the provider to drop the policy completely or continually threaten to do so at each renewal.
States, too, often demand that businesses include a long list of coverage if they offer health coverage at all and many businesses, unable to afford the bill, opt for no coverage, period.
States are addressing the problem but until more laws are passed, there are a few other things that businesses can do to continue to offer health insurance to their employees. For one thing, you can join a trade association which offers its members health insurance. These are often much cheaper than going it alone. Unless the entire organization is cancelled by the provider, you won’t be, either.
More after the jump…
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