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Can You Lower Your Premium for Group Health Insurance?

The answer to this question is it depends.

But if you can, the savings can sometimes equal the salary of an average employee.

Yes, I’ve seen reductions in the $40,000+ range, depending on group size.

If you trade one company for another with the same benefits, you will likely not see a decrease in premiums. The trick is to switch to another carrier that uses different underwriting assumptions for your premiums. If you are a small employer looking for lower health insurance premiums and you haven’t looked at a Self Funded Plan for Small Groups, you really should.

How can a Self Funded Plan for Small Groups lower your premiums?

Health Questions

With a Self Funded Plan for Small Groups, the insurance company will ask for health information from each employee. If you have a generally healthy group, you will be given in effect a “good health discount.”

Annual Refund

With a Self Funded Plan for Small Groups, you will be entitled to an annual refund of excess premium if your group has annual claims lower than the target amount.

About 70% of my groups receive refunds with the average amount in the $4000 range.

  • Will you be required to cut your employee’s current benefits? No
  • Will access to doctors and hospitals be compromised? No

To find out how much more efficient we can make your current group plan, give is a call at 615-376-8899, or complete the online census.

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