Lowing The Cost Of Illinois Group Health Insurance

As a small business owner to stay in business these days you have to offer your product or services at a competitive rate and you have to give great customer service. Another goal each small business owner has is providing a work environment in which employees can excel.
Employees that Excel at work are very often employees that love their job. One of the most important benefits that employees are looking for these days is an employer-sponsored Illinois group health insurance plan. Offering a group health insurance plan is one way to retain your employees but it can also be used as a tool in attracting good employees.

The challenge of having a group health insurance plan is keeping the premiums low. One of the problems of having a small group plan is that it only takes one employee to be seriously sick to get a significant rate increase at renewal time. Rate increases are based on four main factors which are:

1. Trend – which is the projected rise in healthcare costs
2. The demographics of the group in five year age bands
3. The groups health insurance usage
4. Area factor for the health insurance carrier

When looking at these four reasons for rate increases what can a small business owner do to keep their premiums low? You can’t fight the fact that we’re all getting older every year and you would certainly never want to fire your seasoned employees simply to keep your rates low. So what would be another option?

Having healthy employees is your best bet. One of the best ways keep your employees healthy would be to implement a wellness program. A wellness program would be a program that would promote a healthy lifestyle. Take a good look at the makeup of your group asking your agent for help if needed. If you have a lot of vertically challenged employees for example, have a local dietitian come in and help you implement a weight loss program. Make informational leaflets available to your employees for their specific health conditions.

Raising deductibles and increasing doctor office co-pays does very little to promote a healthy lifestyles. It can sometimes have an adverse effect on your group’s health as a whole. Employees will sometimes think twice about going to the doctor if they have high co-pays. Which results in employees not getting the health care that they need to keep their health conditions under control.

Randy Gillespie is the owner of Focus Insurance Group, get expert help from an agent specializing in Illinois Group Health Insurance, & Illinois Health Insurance. To learn more visit his site at www.Focusinsgroup.com

Tags: Illinois group health insurance, Illinois health insurance

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