30 Second Insurance Tips©

Tip 88- A Renewal “Scorecard”

As our clients renew their health plans, we keep a ‘scorecard’ of sorts showing the results over
any twelve month period. National surveys are reported in the media often, but I thought these
more local results might be of interest.

Premium increases first delivered by our insurers year to date in 2012, have averaged 14.4 %.
But then . . . . .

  • 16% of our clients switched insurers.
  • 22% of our clients changed plan design but kept the same carrier; the average deductible,
    for example, is now $2,096.
  • 62% of our clients kept the same plan design and insurance carrier though with many, we
    were able to negotiate rate relief.

    Premium increases actually “installed” have averaged just 7.8%.
    Not bad, but we won’t take any bows until we get to zero!