Small is a relative term. Working with “Small” businesses for over a decade now it is clear that though their number of employees may be small their health insurance bills can be awfully big! Sometimes the numbers can be staggering, employers paying well over $500 a month for an employee only plan and over $1,500 a month for family coverage. Through steady yearly increases once reasonable prices have become so high that employers often contemplate cancelling their group health insurance program all together. This is the time that they often reach out to us.
When we have our first meeting with many of these employers they are frustrated and feel that their current broker doesn’t really have their company’s best interest at heart. Sadly they are right. In the small group health insurance market, two to about twenty employees, many brokers do not dedicate the time and resources necessary to make sure their clients are getting the best rates and coverage available. Even worse yet we sometimes see other brokers using scare tactics to keep employers from leaving them. They tell the owner or HR manager that all other insurance companies besides the one that they currently have are bad. They infer that they won’t pay claims or cover certain conditions. Almost all of this information is untrue. But it scares the client enough not to check around for prices.
The truth is, since the Affordable Care Act was signed into law, most carriers offer extremely similar programs . What is not so similar are the prices! We have seen over 40% discounts on prices for comparable plans between two different carriers. Also there are large fluctuations in the available prices from year to year sometimes even from month to month. A good broker will show your company all of the available options and give you the straight facts about the carriers and not their opinion.
Next time you are up for a health insurance renewal give Strauss Insurance a call or an email. We would be glad to go over and explain ALL of your options to you. Or if you would like a quote right away click the below “Group Health Insurance Quote” link. You will be asked for some information and once we receive it we can get started on your quotes right away.