Although the weather is still warm, autumn has arrived. With the cool nights and changing leaves, comes the annual dance called health plan renewal. Have you ever heard that 8% is the best we can do or we are happy to report we negotiated the renewal down to 6%? Well, your financial advisor would tell that at 6% per year, that money will double in 12 years (Rule of 72). How much more can your employees endure? American workers’ wages have not kept up with health insurance premium increases and out of pocket costs for the past thirty years.
If you are tired of the same old annual dance ritual, maybe you change partners. Learn how to reduce cost and increase employee benefits simultaneously. Contact MBA today.