Group Health Insurance

Group health insurance is an important benefit for employees, and a comprehensive plan can help employers attract and retain key personnel. It is also the most expensive part of a group benefits package.

With the passage of the landmark Affordable Care Act in March 2010 health plan renewal rates have increased significantly, according to the Council of Insurance Agents & Brokers. Employers are passing the costs along to employees through higher deductibles, co-pays, and increased premiums.

The increases appear to vary regionally among medium-sized accounts (51-500 employees), with the highest in the Pacific Northwest (40%) and the lowest in the Northeast (31%).

Employers have a variety of options available to control costs, including making some or all of the changes noted above and modifying existing plans to drop coverage for items such as spousal health care, hospital indemnity insurance, and contraceptives.

Although the bulk of the insurance reforms as legislated by the Affordable Care Act will roll out over the next four years, a smart HR administrator needs to begin today to assess the impact on the company's health insurance plan. Designed Benefits Group can work with you to determine a strategy that will put you in compliance with the law, offering your employees quality benefits at an affordable price.