Insurance Renewal Rates

Insurance Renewal Rates

Many businesses will receive their new health insurance renewal rates over of the course of the next month from their health insurance provider. With some health insurance renewal rates increasing in range from 25 – 80 percent next year, many employers are concerned with the costs associated with health care insurance.

An article in Forbes on Sept. 18, 2014, states that increases on the private exchanges beat the projected industry averages for large self-insured employers. The difference between these rate increases is projected to be between .7 and 2.7 percent. Aon Hewitt, a human capital and management consulting services firm, says in the article that employers using private exchanges online could see a savings of “more than $750 per worker.” An analysis of your business’s health insurance costs can help determine the impact health care reform will have on current and future costs.

For more information about Health Care Reform and health insurance options, contact an Eide Bailly service provider or visit our Health Care Reform website.

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