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Rising Medical Insurance Costs
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Where should employers turn?
Employers have come to expect double-digit rate increases on their health care plans for years now. It is so commonplace that they budget for the onslaught year after year. The rate of increase in health insurance premiums did decline for a second straight year in 2005, slowing to 9.2 percent compared to 11.2 percent in 2004 and 13.9 percent in 2003, according to a report from The Kaiser Family Foundation. Even with this reduction in the increase, the overall rates are still rising at a rate faster than the rest of the economy. Sooner or later the cost of coverage is going to pass the point that is acceptable. Do we wait until employers decide to cancel coverage completely? Where does the employer turn? 
Wellness - A Resolution For Employers
Every New Year brings a new set of goals and challenges for business both small and large. Changes are brought upon employers that challenge how they deal with changing regulations, technology, operations and employee expectations. Strategic planning helps employers to put their resolve into a plan. One issue that employers seem to plan around rather than offer a plan of attack is the issue of every increasing benefit costs. Specifically, health care costs.
Health Savings Accounts:
Save Now And Save For Later
Health Savings Accounts (HSAs) became law as part of President Bush’s Medicare Prescription Drug, Improvement and Modernization Act of 2003. The purpose of HSAs is twofold:
• They promote savings for future health care expenses.
• HSAs represent another attempt by the government
to gently nudge the insured public into consumer driven health products by offering tax incentive
programs to those enrolled in qualified plans.
Health Insurance Market Update
Health care spending continues to rise, and the price to insure the risk is rising at an equally alarming rate. Whether the purchaser of the insurance is an employer or individual, the reasons for increases and opportunities for rate relief are similar.
Once we understand what is causing our costs to rise, we can make decisions to limit these increases.
What is causing the continued
sharp increase in
health insurance? There are many
reasons, a few include...
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