How To Best Handle Health Insurance Plan Changes

Many economists have suggested and recent economic data indicates that the economy is steadily moving in the right direction. A combination of several factors has no doubt had a negative impact on the economy over the last several years.

The recent state of the economy, combined with the increasing cost of healthcare, has made it difficult for all size employers to continue to offer the same level of employee benefits. In the case of health insurance, future plan modifications may be necessary over the next few years.

After much consideration, these modifications may take the form of increasing deductibles, out of pocket maximums, office visit copays, and prescription copays. Employees may also be required to increase their contribution amount. A vast majority of employees understand the current strain facing employers. Employees are particularly aware of the difficulties faced by medium and small business owners.

If you find that plan changes are inevitable, several aspects are very important to pay attention to when modifying your group health insurance coverage. Modify the parts of your plan that provide a savings while having the least impact on your employees. Make sure the changes are fair to both the employer and employee. Develop and execute a strategy that clearly communicates the plan changes as well as the reasons for the changes.

When the outlook for your business does improve, your organization's ability to capitalize will greatly be dependent on your ability to attract and retain productive employees during difficult economic times.

Michael Ertel is the President of Ertel & Company, Inc. and has over 15 years of experience in the health insurance business. He is the founder of http://www.MedicalInsuranceNow.com which is an internet based service that assists individuals, families, and small business owners by providing side by side comparisons of health insurance alternatives and the convenience of applying for health coverage online.

---

Homeowners Insurance at a Glance

At first glance, homeowners insurance may seem perplexing and quite... Read More

A Few Things Everyone Should Know About Disability

Did you know? One year of disability can wipe out... Read More

Seven Steps to Filing Your Car Insurance Claim

Having even a teeny-tiny car accident can be one of... Read More

Life Insurance Providing Little Protection from Terrorism

Recent statements by the City of London Police Commissioner James... Read More

Is an HSA a Type of Insurance?

A Health Savings Account (HSA) is not a type of... Read More

Finding Life Insurance Quotes For Adult Children

Shopping for life insurance quotes for adult children isn't any... Read More

The Best Rates on Life Insurance

Finding the best rates on life insurance is not difficult... Read More

Insurance: A Necessity for Peace of Mind

There are many choices for insurance. Insurance is a policy... Read More

Long-Term Care Insurance: Eldercare Solution

When I suddenly had to become a fulltime caregiver to... Read More

Disability Income Insurance Can Meet All Your Financial Needs

Disability income insurance can cover you in the event of... Read More

Term Life - Who Needs It?

If you've read any of the books or articles by... Read More

Cheap Health Insurance - Health Insurance for The Self Employed

If you're self employed, you may think of health insurance... Read More

Health Insurance Quotes Online - Tips On Finding a Good Provider

Since 2001, major health insurance providers have been allowing consumers... Read More

Poor call centre performances driving motorists online for insurance

In their efforts to cut costs more and more finance... Read More

A Free Term Life Insurance Quote Is Only Easy To Obtain

By searching online for life insurance, you can get a... Read More

Insurance For All Your Gadgets

Personalisation, Digitalisation, Mobilisation, these 3 words represent your life today.... Read More

Life Insurance, the Universe, and Everything

You may have noticed that life insurance is coming back... Read More

Student Possessions Insurance - Insuring the Contents of Your Room

In the UK each September, 350,000 new students embark off... Read More

Protecting Your Expatriate Family

If you and your family relocate overseas, one of your... Read More

Understanding How Your Credit History May Affect Your Car Insurance Coverage

Many personal auto insurance companies consider your credit information when... Read More

What To Do When You Suffer An Injury On The Job?

For over 30 years I have been representing injured workers... Read More

Theres No Problem Getting Texas Auto Insurance in Texas

Everything is big in Texas and so it is with... Read More

Life Insurance Leads, Insurance Leads, and the Online Lead Generation Business

I've long wanted to write an article about Internet Leads... Read More

Consequences of Late Insurance Payments

Did you realize that it could cost you more than... Read More

Vehicle Insurance Online is a Convenient Way to Get Insurance Cheap

Online comparison shopping is a convenient way to get cheap... Read More

What You Need to Know About Auto Insurance

Let's be realistic, everyone needs to have auto insurance. Aside... Read More

The Awful Truth about Annuity and Insurance Leads

You see the websites, you see the ads: exclusive, never... Read More

Senior Life Settlement-Uses and Applications

In a recent article in the National Underwriter (April, 2005)... Read More

Cheap Term Life Insurance is Available Everywhere

Cheap term life insurance is easier to get than most... Read More

Photography Insurance-Insurance for the Photographer

Part and parcel of establishing your own photographic business is... Read More

Are You Running the Risk of an Uninsured Business? Beware & Get Business Insurance

Human life is precarious and so are the activities they... Read More

Finding Health Insurance for Self-Employed Individuals: A Guide For the Freelance Newbie

With a rise in those looking to venture out on... Read More

Life Insurance Fears Post the London Bombings Tragedy

Following on from the tube train and bus bomb attacks... Read More