87% of small and medium sized businesses are overpaying for their healthcare plans by an average of 23%. Your company probably is too. If you are experiencing annual increases of more than 3% each year then you are probably getting ripped off (and your healthcare broker doesn’t even know it.)
TO BUSINESS OWNERS
If you are a business owner, every dollar your business is forced to spend on healthcare comes right out of your pocket. This not only your business, but also hurts your employees, your family, your lifestyle, and your retirement.
TO NON-PROFIT ORGANIZATIONS & TAX PAYERS
If you work for a university, school district, nonprofit organization, public sector union, or as a first responder, money wasted on healthcare hurt your ability to achieve your mission and it hurts your employees. In addition, tax payers lose millions of dollars a year.
TEN TRUTHS ABOUT HEALTHCARE PLANS
1. Most healthcare plans include services mandated by federal and state governments that your employees don’t even need.
2. Services, procedures, and prescriptions are overpriced.
3. 90% of employees never hit their deductibles, the insurance company doesn’t tell you and they keep your money.
4. Administrative costs are often inflated by 200%.
5. Renewal notices demanding huge price increases are deliberately sent right before your renewal date so you can’t shop for better rates.
6. Renewal notice line items are confusing and numbers are deliberately manipulated to justify increases.
7. If you question any of these things, healthcare brokers will tell you “that’s just is how it is.”
8. The only solution often proposed is switching carriers. The proposed carrier will only give you a quote if you provide what you are paying now and the proposed increase, so they can give you a slight reduction from your current companies massive increase. (This is a well known practice called “business cycling.” Google it.)
9. Even while switching carriers, you will be told to cut employees benefits and shift costs to them through higher deductibles – which is actually worse for you and your employees.
10. The healthcare broker is paid no matter how much money you lose and usually makes more money the worse your plan is for you. (Shouldn’t he be providing a guarantee and not get paid if he doesn’t deliver?)
Get a Complimentary Plan Analysis Now
We are researchers and educators concerned about the high cost of healthcare to business owners, educational organizations, non-profits and unions. With a recent invoice and “employee census” we can run an analysis that will highlight problems in your plan and how much you should be saving. We provide this as a public and consumer education service to businesses or organizations with between 10 and 10,000 employees.