Category Archives: Health Plan Design/Benefits
Lower Your Turnover
Turnover costs you money, folks, big money. New, replacement employees aren’t nearly as efficient as the employee that left, so productivity drops. (I’m talking turnover, which generally means that the good employees are leaving for greener pastures. I’m not talking termination of lousy employees – that boosts efficiency and productivity.)
Business Benefits TV Episode 5 – No Cost Benefits
In this episode, Jim Edholm and his associate talk about voluntary benefits. Voluntary, employee-pay-all benefits can be made available for various coverage classes such as disability insurance, life insurance, dental, critical illness, accident and many other coverages. Employees appreciate the benefits almost as much as they do benefits that are employer-paid, so they can add [...]
Benefit Trends, 2012 Version
Met Life does a study every year titled, “Study of Employee Benefit Trends.” This year was the 10th year they’ve done it, and there are some very interesting items in it, which I plan to cover over the coming weeks. This is Met Life’s data but my interpretation.
Does Your Health Plan Really Cover Your Employees’ Medications?
I use generic drugs. I like generic drugs – they save me money and seem to do the trick. But not everyone feels the same way. Some people have allergies or side effects. Some doctors believe that the original is the only drug to use, so they prescribe the drug with “no substitutions” or “D.A.W.,” [...]
New Newsletter and Latest BBI In The News
Please click here to see all of our 2012 Newsletters. Also take a look at Jim’s latest article listed below.
I Have Seen the Future (of Healthcare) and It’s Not Bad…
If we can keep the politicians out of it, that is. I’ve just finished a period where I’ve seen things I haven’t seen in over a decade – specifically, a string of single-digit rate increases – some under 1% – and one actual reduction in rates! In Massachusetts, of all places.
The Dark Side of Group Broker Selection
Besides costing you money, selecting the wrong broker might just get you in trouble with the law. I know, you’re thinking, “C’mon, Jim, don’t overstate your case. It can’t be that bad to make a poor choice.”
Bonuses Can Incent Your Benefits Broker to Keep You with the Same Carrier and Plan and Pay More Than You Should
I have been published again in the Business Insurance Feb 20th, 2012 issue. In this article I discuss how using a broker to get you a better deal can actually help save you money.
Easy-To-Understand Health Plan Regulations
I love it!! The same government that passed a 3,000+ page health bill that “we have to pass to see what’s in it” has now passed requirements for insurers and employers to issue by September an easy-to-understand set of descriptions of the plans.
The Flap Over Retailers’ Health Care
Remember that old saw about “never believe what you read in the papers (or hear on the TV/radio)?” Well, it’s true. News stories tend to be based on truth – but they aren’t necessarily true in the way they’re reported. At best you have to read deeply into them.