How can employers cut benefits without damaging their relationship with employees?
A lot of it comes down to how well you communicate with the employees, especially when it comes to how you explain the level and also the cost of the benefits. Employees might not always be aware of the actual amount of money business owners spend on health care for them. It’s usually the second-largest expense, next to wages. Q: Can businesses negotiate lower premiums right now? A: Generally, in the small-business market, premiums are established by the insurance carrier and they’re not negotiable. You can go out to multiple carriers, obviously, and look for alternative solutions based on hospital and physician networks. Usually, what’s taken into account is your employee census: how many people are insured, the age and sex of your employees, the plan levels you choose and geography. Q: How will President Obama’s health care plan affect the plans that are out there? A: It’s too early to tell. But it would appear that employers would be required to provide a minimum level of health ins
