For the majority of employers in this country, open enrollment came and went on January 1st. And for most, the bad taste in their mouths lingers. The majority of increases are still in the double digits. Employers have little time to consider out-of-the-box solutions to rising health insurance costs because carriers do not typically release renewal rates until 30 to 60 days before the renewal date.
So what can employers do to ensure they don’t wind up in the same position next year? Look at your most recent renewal. While it may be as much fun as pouring salt in an open wound, failing to be proactive increases the likelihood of ugly renewals in the future.
In order for an employer to be creative when it comes to combating health insurance costs, it needs to have a well-thought-out strategic plan (which is not to wait and see what the health renewal looks like next year and perhaps choose an alternative plan b...(register to read more)