Group Health Insurance Benefits:How To Keep Health Insurance Coverage 100%
Only 5% of employers in the U.S. still offer 100% coverage for their employees’ health insurance benefits. Other employers are choosing high copay plans or high deductible plans. Most others are passing their increase in health care costs on to their employees.
Fact: Health Care Premiums are rising faster than workers wages
Premiums for employer-sponsored health insurance rose an average of 6.1 percent in 2007, less than the 7.7 percent increase reported last year but still higher than the increase in workers’ wages (3.7 percent) and the overall inflation rate (2.6 percent), according to the 2007 Employer Health Benefits Survey conducted by the Kaiser Family Foundation and the Health Research and Educational Trust.
The 6.1 percent average increase this year was the slowest rate of premium growth since 1999, when premiums rose 5.3 percent. Since 2001, premiums for family coverage have increased 78 percent, while wages have increased 19 percent and inflation has increased 17 percent.
The average premium for family coverage in 2007 is $12,106. On average, workers now pay $3,281 out of their paychecks to cover their share of the cost of a family policy. While premiums continue to rise faster than wages, this year’s gap of 2.4 percentage points is much smaller than the 10.9 percentage point gap recorded four years ago, when premiums rose 13.9 percent and
wages grew just 3 percent. (Agent Sales Journal Nov. 2007)
Lets Keep it 100% coverage and reduce the premiums
This is a strategy from Easy To Insure Me .com
We will use 2 equations for a 15-employee group: Current and Future Solution
Equation 1 Current
15 employees
(Yearly Premium) $100,000=Health Care
Equation 2 Future Solution
(Yearly Premium) $60,000 + $15,000 (employees x deductibles) = $75,000 maximum exposure
100% coverage and the employer pays for the deductible
while still saving 20% to 40%
**We say maximum exposure because not all employees will satisfy the deductible
Call 215 944 3079 and ask for Chad Levin for more information
EasyToInsureME.com Chad Levin Toll Free 1-866-492-3905 Email easytoinsureme@yahoo.com Yahoo, AIM, LIVE screen name: EasyToInsureME
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