6 Easy Steps
  To Control Health Insurance Costs

You can’t read a paper or watch the news without hearing about health insurance costs being “out of control.” Small group medical plans are experiencing double digit rate increases every year and there seems to be no end it sight.

We believe health insurance costs CAN be controlled using 6 simple steps:

  1. Shop Aggressively – Our local insurance market is vital and competitive. Several carriers and associations (medical plans) are offering comprehensive, creative, affordable plans. Kimmel Benefits is committed to shopping entire market to find the best plans available.

  2. Tax Advantages – There are many ways to create tax-favored accounts and savings for both employers and employees (Self Directed Health Plans). Plans are simple, inexpensive and easy to administer.

    1. Premium Only Plans

    2. Flexible Spending Accounts (FSA)

    3. Health Care Reimbursement Accounts (HRA)

    4. Health Savings Accounts (HSA)

  3. Plan Modifications – Most plans have several components that can be incrementally modified to lower costs without drastically changing the coverage. If communicated properly, employees are usually understanding of the need to make changes plans.

  4. Consider Self-Funding – Self Funded plans are a viable option for qualified companies. Also, using HRA’s (Self Directed Health Plans), it is now possible to self-fund specific benefits such as vision, prescription drug and dental benefits.

  5. Voluntary Plans – Many benefits can be shifted to voluntary, employee-paid benefits. Dental, life insurance, and disability plans are usually well suited to a voluntary format.

  6. Choose a Competent Advisor – The single most important thing you can do to control costs is choose a competent broker/agent to guide you through the complicated insurance process. A quality broker will have the experience, expertise and contacts to assist you in every aspect of the insurance process. Choose an agent that specializes in small group benefits like Kimmel Benefits.