The premium increases are overwhelming. The average annual cost of employer-sponsored health insurance has skyrocketed from $5,791/family in 1999 to $16,351/family in 2013. In fact, insurance premium increases are among the biggest concerns for business owners, CFOs, and HR professionals throughout the United States.
Private exchanges are enabling the defined contribution approach (once associated only with pension plans and 401K), which puts your business in control of healthcare costs.
You pick a fixed dollar amount that can be allocated to employees in the form of a health insurance allowance, and they purchase the plans that fit their individual needs. This leads to higher employee satisfaction and predictable benefit costs year to year.
This document contains information on private exchanges.
We’d be delighted to assist you with any questions you may have about the changing regulatory environment, insurance, retirement benefits, and what we can offer you.
One of our team members will meet with you personally to demonstrate how a defined contribution approach can work for your company and employees.
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