We wrapped up a January 1 renewal this week.

Our client received a very modest 5% premium increase for their $3,000 ‘HDHP’ HSA. It would have been easy to just let that slide and renew as is.

But being thorough trumps easy.

After checking the market, we also thought our client should see the premium savings that would result by increasing the deductible to $3,500.

This resulted in a 4% premium decrease; for a 17 life group, an annualized savings of $22,000.

I think most of us understand the logic of raising deductibles. After all, do insurance companies send refunds if no one uses the plan? (Well actually, under the ACA they do, but that just confuses my Tip!)

Since employers pay on average 70% of the premium, many would keep the savings.

In this case, our client decided to pass along the entire savings (and then some) as increased contributions to the employees’ Health Savings Accounts. (For singles, from $750 to $1500; for families, from $1,250 to $2,500.)

Now you’re talking best places to work!