Ilios Partners announces novel health care approach — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Ilios Partners announces novel health care approach

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Nick Trikolas, CEO of Ilios Partners of Chicago, has announced plans to move its 100 employees from group to individual health insurance coverage this year. “This may be the future of health insurance,” Trikolas said, noting that Ilios is on the cutting edge of a large employer movement to control costs. 

Ilios plans to pay a portion of its employees’ medical costs into tax-free accounts that workers can tap as needed. The company also will provide a link to an independent web site where workers can compare quotes from private insurers.

The percentage of employers providing insurance is shrinking, and the number of uninsured Americans is growing. Last year, 60% of employers offered group coverage, down from 69% in 2000. The number of people without insurance rose to 46.6 million, up from 44.8 million in 2005.

Proponents of individual coverage say most workers will be able to buy coverage on their own. The healthiest will be able to pay less than they pay now, and will no longer have to shoulder the burden of the sick and old.

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