If your small business – defined as one with from 2 to 50 average total number of employees (ATNE) – offers health insurance, chances are it’s through a fully insured ‘grandmothered’ plan renewing in the fourth quarter.
Expect to see increases in one of three tiers; for healthy groups, trend is about 9%. Less healthy groups may see increases ranging from 15-25%.
Or, you could take a different route.
In his book “The Grassroots Health Care Revolution,” John Torinus (Serigraph) provides a detailed three year “road map to delivery of best practices in health care.”
It starts with self-funding, which is misleading. Products for small businesses are conservatively “level funded” with monthly maximum exposures that may be up to 40% below fully insured premiums.
But your group would have to be medically underwritten to qualify.
And then, you’d need to follow through with Torinus’ road map to take control of your medical spending in years two, three and beyond.
Torinus and I will gladly help you on this journey.