Discussions on Key Business Trends in Health Care

Plan Early and Shop Around

It's Never too Early to Start Preparing for the Next Plan Year

In today's ever-changing health care market, it's never been more important for employers to plan early and shop around for their company health insurance.

"Too many employers simply pay their premiums without a full understanding of what they are purchasing, how well it meets the needs of their employees and how much it affects their bottom line," says Amadou Yattassaye, President, HealthLink.

If your 2018 plan just went into effect, it could be the perfect time to start thinking about next year. As an employer, your broker, network partner or insurance carrier should be a trusted resource for making benefit decisions and ensuring your plan meets all industry standards and regulations.

"Employers should start the planning process by working directly with these partners to examine the current plan and its performance," continued Yattassaye.

Aspects such as claim history and spending trends should be evaluated. It may also be beneficial to compare the current plan to those of similar companies to determine if the benefits are competitive. From there, employers can consider different solutions to make next year's plan more effective. Typically, the more informed and involved the employer, the more successful the benefit plan.

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