Group Health Insurance News and Trends

Tips on keeping a watchful eye on group health insurance news and trends

As employer health care costs skyrocket, it’s more important now than ever for businesses to stay informed on group health insurance news and trends. Any employer with less than 50 and more than two employees can qualify for small group health insurance.

Rising costs is a health care trend that worries many employers. Today, median costs of small group health insurance can range as high as more than 5% of a company’s total revenue. The following health insurance news and trends are just some of the topics on which you should keep a watchful eye.

1. Research group health insurance info to learn more about trends in various plans.

2. Read up on state incentives to help lower costs of group health insurance plans.

3. Learn how comprehensive health care reform can affect your business.

 

Research group health insurance policies

HMOs, POSs, PPOs, fee-for-service and MSAs are several well-known group health insurance plans. Of these plans, HMOs generally carry the lowest costs and the MSAs were designed to help small businesses afford health care coverage to employees. As insurers and employers try to find common ground in health care costs, many hybrid group health care plans also have surfaced.
Try: Learn more about the trends in group health care plans by checking out U.S. News. Check out the Public Record to read more about trends in rising health care costs.

Learn more about state incentives for group health insurance plans

Many states and group health insurance providers are teaming up to offer alternatives to lower costs. For example, Georgia's Governor signed off on high-deductible group health insurance plans designed to decrease the number of uninsured residents. Small businesses offering these high-deductible group health insurance plans will qualify for a $250 tax credit for each employee enrolled in such plans for a full year.
Try: Check out the National Conference of State Legislatures to read more about how states and providers of group health insurance are working to make group health insurance plans more affordable. Visit the Center on Budget and Policy Priorities to find out more group health insurance info about what states like Georgia and Florida are doing to increase the number of insured residents.

Evaluate how health care reform affects group health insurance

The overall goal of comprehensive health care reform is to provide access to affordable individual and group health insurance coverage to all Americans. Some aspects of the reform package could promote affordable coverage for all employees despite health history, reduce administrative costs to employers and offer additional tax credits to help small businesses control rising health care costs.
Try: Read more info on group health insurance and reform by visiting the Center for American Progress. You may also learn more about state health care reform by visiting Fallon Community.

 

• The best way to obtain affordable gorup health insurance is to shop around and review multiple group health insurance quotes. If you're finding that the health insurance quotes for small groups you are receiving are too high for your budget, try reducing coverage options or inquiring about plans that require more of an employee contribution.

Copyright © 2011 Business.com, Inc. All Rights Reserved.

---