Do you feel like your company health insurance premiums are much higher than they should be? You see neighbors and friends run to the doctor all the time, but you and your co-workers never seem to access care. No doctor visits, no prescriptions, no emergency room visits. Do you seem to be supporting everyone else’s high use lifestyle?
There may actually be a remedy if your group claims truly are as low cost as you think. You may be able to qualify for improved rates if your expected claims fall within a preferred range. There are still group plans available that require medical underwriting and they have the potential to drop your rates quite a bit. Better yet, if your group remains as thrifty as it currently is, you may have the opportunity to stabilize your rates in future years.
So what does it take to qualify?
First, your group will need to provide medical information which is otherwise not necessary. Just because a group does not include anyone with a major illness like cancer, heart disease or other expensive procedures does not mean that it is a healthy group. Also, just because a group had a shock claim like a premature baby does not mean that the group is unhealthy. Details on medical conditions allow underwriters to determine the risk a group presents.
Second, because a group is “healthy” does not mean that it has low claims rates. Many of us have chronic conditions that are fully controlled, but we have regular doctor visits with labs and other diagnostic testing which all spell “claims”. You will need to determine just how your group stays healthy.
Third, in a time when medical questions are no longer required for groups of less than 50 employees, it will take a clear explanation of the possible benefits of an underwritten medical plan to get everyone on board. The medical information which we used to provide without question is now something that many of us want to guard from theft.
Health insurance costs are rising each year with no end in sight so it is important that we look at all options when we provide benefits. Contact us at Czajkowski Dumpel & Associates, Inc. and we can help you to determine if there are better options available to your group. We are here for you!