Employee health benefits is often the second largest expense for employers, just after payroll, and according to surveys, controlling that cost is the number one issue, or problem employers are facing today.
The Cost of Health Care for employers and their employees, is growing at an unsustainable rate, rising faster than inflation, workers earnings, GDP, and profit margins.
Less than 30 years ago, family health coverage cost just $200 per month, now the cost to insure the same family is over $1,600 per month. The average family health insurance premium now exceeds the average monthly mortgage payment.
While the cost goes up, employees are often having to take on a larger portion of the cost of coverage; and, while employees are having to pay more for coverage, they’re seeing their out of pocket costs increase as well.
Businesses have settled for what they think is the best value, sacrificing benefits, and increasing employee out-of-pocket costs, just to afford coverage.
Health insurance brokers provide quotes and help employers to manage their premium increases. We focus on reducing the $$ spent on claims to reduce an employers health benefit costs. Brokers cannot, and do not do what we do.