Reducing Health Insurance Costs During the Pandemic

Reducing Your Plan Costs During the Pandemic

This may come as a surprise, but it’s possible that you could get a favorable health plan renewal despite the pandemic. As an expert benefit team, we can help to negotiate plan renewals for our clients. We’ve noticed there are several ways in which you can negotiate a lower renewal rate that we’re going to share with you now.

The Top Tips for Keeping Plan Costs Low

• Start your renewal process earlier than usual. This will give you more time to establish exactly what it is you need and reduce the likelihood you’ll have to settle for second best.
• Don’t think that just because we’re in the midst of a pandemic that you have to accept a high renewal rate.
• With our help, you can conduct an analysis of similar companies to your own. Looking at things like size, location, industry, and number of employees will help to make sure you get the very best deal from a major carrier.
• Don’t be afraid to change your carriers. We know that this may seem counterintuitive, but it’s likely that there’s a better option out there for you and your employees.
• Changing to a consumer-driven health plan can help you to cut costs. These high-deductible plans require a portion of the healthcare services used to be paid for with pre-tax dollars and can be more beneficial to people with less health conditions.

How Benely Can Help

Our team of benefit experts can help manage your insurance plans in the most stress-free manner possible. Partner with us and you can take advantage of our experts’ in-depth knowledge of the group health insurance industry and our vast network of health insurance carriers.

Making the effort to cut back on costs can be a challenge – especially when you’ve got a business to run. Contact us today and we can help you to streamline your benefit program while you’re free to focus on growing your business. In addition, you’ll have access to certified HR professionals that can help your business overcome all obstacles in its way.