Early 2019 insurance rates highlight a need for benefit alternatives
Nationwide insurance companies are citing policy changes to the Affordable Care Act, including the repeal of the individual mandate and expanded short term options, as the culprit for the requested higher rates.
Also driving up premiums are medical expenditures. They are expected to rise 2.2 percent this year, compared with 1.9 percent for overall inflation, according to the
Yet rising prices have done nothing to quell employees' desire for improving benefits, as they're now being used as a benchmark in a tightening job market. Employers are going to need alternative benefit solutions to stay competitive with the national unemployment rate dipping to 3.8 percent, according to the
They're going to need options like those offered at ClaimLinx, a full-service consultant, insurance agency and third-party administrator that specializes in guiding business owners through the insurance market with its own unique strategy for achieving the best, most affordable health plan.
ClaimLinx has pioneered a solution for purchasing health insurance that combines traditional high deductible insurance plans with a customized self-funded medical expense reimbursement plan. The resulting plan enables employers to offer top-notch benefits at a much lower cost.
"You've got to be providing the best assets you can to your employees or it's going to become your liability — no question," he said.
What started as a small idea in
"Our company has saved tens of thousands of dollars," Moore said. "ClaimLinx can provide the benefits that we want, not what the insurance company suggests."
Contact:
[email protected]
www.claimlinx.com
View original content:http://www.prnewswire.com/news-releases/early-2019-insurance-rates-highlight-a-need-for-benefit-alternatives-300661801.html
SOURCE ClaimLinx
John L. DiBacco, 83, retired chief financial officer at Niagara Falls Memorial Medical Center
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News