Last week, we delivered a no increase(!) renewal to a
larger client. Those are nice.
With tight budgets, we still talked about plan design changes that might actually lower premiums. Here’s one example.
Under the current plan, simple lab and x-ray charges are covered at 100%. If those same charges applied to the deductible and co-insurance, premiums would decrease by 7%.
Doesn’t sound like a big deal, does it?
It is if your plan covers 414 employees with an annualized premium of $3.4 million dollars.
Our client passed on the $237,000 savings noting the impact of the cost shift to his employees.
No doubt this will come up again next year, especially if we’re looking at a 10% increase!
