Employee Benefits Insurance Pasadena Los Angeles, Calfornia

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5 Strategies To Optimize The Employee Benefit Enrollment Experience

Rate Your Employee Benefit Enrollment Experience

As respected employee benefits & insurance brokers in Pasadena, Pontrelli, Timour & Associates believe in helping our client companies optimize the employee benefit enrollment experience. With all of the changes brought on by the Affordable Care Act, it is important to avoid confusion and unneeded difficulties in the workplace. By making the enrollment experience as smooth as possible, company morale can be noticeably improved. The key to success is providing quality enrollment tools and support.

What is significant about this opportunity is the simple historical reality that as many as one-third of employees tune out during this important annual event. In fact, only 42% of employers – a minority – are very satisfied with their level of engagement. These are some of the findings from MetLife’s 11thAnnual Employee Benefits Trends Study. Such findings can be used to help improve the employee benefit enrollment experience.

Rolling Over No Longer A Viable Option

Employees can no longer simply roll-over the previous year’s selections, and they should not really be doing this in the first place. If they do, they often miss out on new coverage options. PT Benefits believes that by offering a wide range of benefits options that fit the needs of your employees, you can strengthen enrollment and engagement across the board.

Optimize Employee Benefit Enrollment

An analysis of the MetLife study suggests four strategies that help to drive benefits participation, raising employee engagement.

4 Strategies That Can Help

1. An Experience Upgrade:

50% of employees responding to the MetLife study said they appreciate online decision-support tools that help prioritize their needs. By providing such tools, you can upgrade the employee benefit enrollment experience. Such tools improve the ability of employees to understand how benefits decisions affect their paycheck. In addition, 7Personalized 4% of employees would value personalized benefits information focused on their age group.

2. A Straightforward Process:

In this hectic day and age, most employees have little patience for complexity when it comes to enrollment. MetLife’s study found that only 58% of respondents described their enrollment process as simple. By reducing and removing complexity from the process, PT Benefits gives our client companies the ability to help their employees make the right choices.

3. Easy Online Benefits Selection:

employee benefit enrollment

Online Tools For Employee Benefit Enrollment

50% of employees prefer online enrollment, but it’s only offered to 35% of the employees surveyed. Both greater satisfaction and engagement are associated with online enrollment. Expectations for an easy online experience are running high among employees who are used to shopping online. PT Benefits can turn this request into a reality for your employees.

4. A Feedback Mechanism:

By asking for employee feedback, it both gets employees involved while creating a sense of ownership of the process. 42% of employees who are engaged in annual enrollment report that their employer obtains their opinion and feedback. By having the input of your employees, you can improve the process and discover any problems that you might have missed.

The experienced management team at Pontrelli, Timour & Associates recognize that nothing makes the changes of the Affordable Care Act easy to handle for either employers or employees. Nevertheless, if an employer can improve the employee benefit enrollment experience, it will be a step in the right direction. If you want to know more about turning these strategies into realities, contact PT Benefits by calling 626-795-4138 for help.

 

 

 

How Online Employee Surveys Can Improve Communication And Raise Morale In An Organization

Why should employers use online employee surveys and how can they gauge the temperature of their companies? In the age of the internet and remote work opportunities, the question of employee loyalty to organizations of any size needs to be addressed by employers. Employees are more likely to leave such businesses and move on to other opportunities they now can easily access on the web and through social media sites like LinkedIn.

Online Employee Surveys Can Help

online employee surveys

Online Employee Surveys

To avoid such loss and improve company morale, online surveys can help achieve this goal. Pontrelli, Timour & Associates has learned through experience that online surveys can help reveal a level of employee dissatisfaction that is hidden beneath a surface layer of pleasantries and the desire to not rock the boat. By understanding the true concerns of employees before they become problems and being able to address them in advance, true employee loyalty that supports the long-term interests of a business can be fostered.

3 Benefits Of Utilizing Online Employee Surveys:

1) Surveys Provide Concrete, Actionable Data

On account of their anonymity, surveys provide data that can be used to take concrete actions that foster employee loyalty. If a company is unsure of how employees are relating to new benefits program options, an online survey can provide the information and feelings that employees are not willing to reveal in person. By surveying all of the employees in a business, data can be achieved that reveals the true temperature of a company.

2) Communication Is Streamlined
Online employee surveys provides a level of communication that is much more effective and streamlined than tradition methods of employer-employee interactions. In the past, problems in the office tended to be conveyed via second-hand information and long after the issues should have been addressed. After utilizing surveys, however, problems are revealed first-hand. By speaking their minds a professional and respectful manner, even when the survey is anonymous, employees can help improve office administration and the overall protocols of behavior.

3) The Cost Is Really Low
As opposed to trying to access employee feedback at the end of a performance review, online surveys, both anonymous and otherwise, help generate a much deeper level of honesty. By receiving feedback without the fear of reprisal, once again the true temperature of a business can be properly gauged. In addition, when offered both multiple choice and written methods of response, employees find a comfort zone to communicate what needs to be heard by an employer.

Online Employee Surveys Are Effective

When implemented properly, PT Benefits has seen that online employee surveys can help establish a positive workplace that helps to foster a more productive and profitable business. By boosting morale, long-term employee loyalty becomes a more likely prognosis. In light of healthcare reform and the job security concerns of employees in small to mid-sized businesses, online employee surveys can reveal problems before they arise.

If you would like to learn more about online employee services and how PT Benefits can serve you as experienced insurance brokers, please call at 626-795-4138 for help.

Three Key Points For High Growth Companies To Consider About Employee Benefits Programs

As insurance brokers working with group benefit programs , Pontrelli, Timour & Associates understands the challenges facing high growth companies. If you are an owner or partner in a high growth company, you most likely experience change and the resulting business evolution on a regular basis. From expanding into new markets and developing your product lines and service offerings to finding the right talent and renovating office space, you have learned that to grow is to change. Without question, PPACA will present a new healthcare challenge for high growth companies in California.

ACA Challenges for High Growth Companies

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High Growth Companies & ACA

Given the major changes in the past year with healthcare reform and the Affordable Care Act, the same evolution is true for a growing company’s  employee benefits strategy. Well before your company hits 50 full-time employees or equivalents, you need to be ready to act. The mandate was only delayed for one year.  Once you reach 50 employees, there are responsibilities that you will need to think through in order to help ensure the success of your company. With PT Benefits, you access insurance brokers that have both the skill set and expertise to work with your company as a growing firm.

As a full-service benefits program provider, we offer a host of services beyond just renewal numbers once a year. Given the complexities of the Affordable Care Act, we have become strategic advisors and business consultants for our clients. If you are a growing company and you are looking for an effective insurance broker, below are three key points you should take into consideration.

Three Key Points For High Growth Companies

Pontrelli, Timour & Associates recommends that you make sure you’re Employee Benefits Advisor can:

  1.  Provide Updates on ACA Compliance and Health Care Reform and Laws:  An advisor should provide consistent updates on regulations such as ERISA, HIPAA, FMLA as well as guidance on health care reform and Affordable Care Act Compliance.
  2. Develop an Employee Benefits Plan Built for the Future:  Are you planning to continue to grow and expand your business? If this is the case, do you have a plan in place? A Benefits Advisor should be able to help you develop a more strategic employee benefits plan that aims to achieve the goals of your organization in terms of growth and expansion.
  3. Help Establish an Employee Wellness Program: Consider implementing an employee wellness program to help reduce health care consumption at your organization.  A good wellness strategy can impact the bottom line by keeping your employees happy and working effectively. Nothing beats good health.

PT Benefits understands the growing pains of a successful company and it  can be stressful. By partnering with an experienced benefits advisor and insurance broker, you can both help ease some of that transitional pain while also being more prepared for the future growth of your firm. To learn more about how we can help smooth the growing pains for your successful business, please call PT Benefits at 626-795-4138.

Three Ways For Employers To Help Employees Understand Healthcare Policy In The 21st Century

With the onset of the Affordable Care Act changing the landscape of healthcare benefits and plans, employers need to help employees understand their company’s healthcare policy and the new options provided by the Affordable Care Act. From implementing any of the new changes to communicating new information about both regulations and options to employees, Pontrelli, Timour & Associates can help employers feel comfortable about taking such steps.

healthcare policy

Healthcare Policy in the 21st Century

Once you understand what needs to be communicated, you can come up with a workable and proactive plan of how to communicate this bevy of new information about your healthcare policy.  PT Benefits offers 3 ideas on how to help your employees with a dual goal of covering the informational bases of your new healthcare policy and creating common ground that raises morale.

3 Ways To Help Employees Understand Your Healthcare Policy:

1) An employer should make sure to share the “what” and “why” of their company’s healthcare strategy. If you’re changing your organization’s health benefits approach for 2014, communicate both the “what” and the “why” to employees. Such shifts in strategy and plans are very common among small to mid-sized companies, particularly nonprofits. You should help employees understand what impact the Affordable Care Act has on the plans you offer, including who is eligible for coverage. In addition to raising awareness, all employers are required to provide a notice about new coverage options with the health insurance exchanges.

2) Employers should develop a new plan for distributing resources about basic healthcare information. PT benefits can help you with such a plan based on our experience with other clients. Many employers are shifting how they offer benefits because of the Affordable Care Act. In many cases, this means is a shift toward consumer-driven health care or defined contribution. Both of these models require employees to take more control. Employees need access to resources and education about basic health care terms, and basic healthcare reform information. A good start is by answering the following questions:

Healthcare Policy Questions

  • Who can your employees call with questions?
  • How can healthcare experts like PT Benefits help? 
  • What resources should be provided to employees? 

3) In order to strengthen their bond with employees, employers need to reinforce the value of their health plans and the overall value of working for the company. Regardless of the type of health benefits you are providing, you obviously care about the health of your employees, but do your employees know this to be the case? If not, you should use communication about health reform as an opportunity to reinforce this principle in order to improve retention rates and create a sense of goodwill by raising company morale.

PT Benefits can support your efforts to help your employees understand your company’s healthcare policy. To learn about how we can make the Affordable Care Act easier for your company to navigate, please contact the professionals at Pontrelli, Timour & Associates by calling 626-795-4138 or fill out our handy contact form.

 

 

 

 

Colonial Life Survey Reveals Seven Top Benefits Plan Enrollment Mistakes Made By Employees

benefits plan enrollment mistakes, colonial life survey, employee healthcare

Colonial Life Employee Healthcare Survey

A new Colonial Life survey shows countless employees making benefits plan enrollment mistakes because they lack the willingness to educate themselves. They simply do not know or have a basic understanding of what is available to them. Colonial Life & Accident Insurance Company recently questioned nearly 400 employee benefits counselors about the top mistakes they see employees making during enrollment. As experts in benefits program administration and employee benefit plans, the principals at Pontrelli, Timour & Associates are not surprised by the results of the survey.

The number one mistake was how employees tend to assume they do not need certain benefits being offered without even discussing such options with a benefits professional. This all-too-common mistake was cited by 81 percent of survey respondents.

Benefits Plan Enrollment Mistakes

What PT Benefits find fascinating is how little the expertise of insurance brokers is taken advantage of by employees. It’s almost as if there is a fear that asking questions will have repercussions. From our perspective, there are no foolish questions if they are asked in a honest quest for understanding and knowledge.

Benefits Plan Enrollment Mistakes 2 to 5 were closely grouped in the rankings and all related to lack of information:

  1. Not reading the benefits information prior to enrollment — 69 percent.
  2. Not knowing what benefits they currently have and what they cost — 69  percent
  3. Forgetting to talk with their spouse about their family’s needs before the enrollment — 67 percent
  4. Assuming the cost of a new benefit is unaffordable without seeing any prices — 66 percent

A survey respondent describe his frustration with this lack of planning and foresight by employees when he said: “This is the one time you have to take control of how you want to provide for your family and yourself. Take time to talk with your spouse and understand how the benefits can really help your family.”

Benefits Plan Enrollment Mistakes 6 & 7 directly pertain to a failure to take advantage of educational resources available:

  1. Not attending group informational meetings — 58 percent
  2. Not taking time to understand the upcoming changes in their benefits plan — 50 percent

Personal knowledge can be translated into power, but so few employees seem willing to access such power to help themselves. Many employers give workers the opportunity to meet one-to-one with a benefits expert for a personalized counseling session.

Post-enrollment surveys by Colonial Life show 98 percent of employees who participated in a one-to-one session said it was important, and 97 percent said the session improved their understanding of the benefits being offered.

With the complexities presented by the Affordable Care Act, such past benefits enrollment mistakes are even more dangerous today. PT Benefits recommend that every small to mid-sized employer sit down with their employees and emphasize the importance of education and knowledge.

With ACA affecting everyone and the higher costs coming down the line, it is time for employees to take hold of the reins when it comes to benefits enrollment. If you have questions from the perspective of an employer or an employee about benefits enrollment, please call 866-782-9899 or fill out our handy contact form.

 

Raphy Timour Of PT Benefits Speaks For Business Owners In Pasadena Now Article On The Affordable Care Act (ACA)

As a co-founder of Pontrelli, Timour & Associates and a respected expert on the Affordable Care Act, Raphy Timour was interviewed by Pasadena Now about how ACA is affecting small to mid-sized business owners and their employees across Pasadena. Since so many business owners are trapped in the maze of the healthcare requirements, mandates and restrictions, Raphy Timour is stepping up to be the voice of the small to mid-sized business owner in trouble. The problem with the Affordable Care Act is that the good man in the middle is being squeezed once again. It is both a honor and an opportunity for Pasadena Now to give Raphy Timour a platform from which to help educate business owners who truly need help and support

A Voice Speaking For The ACA Embattled Business

In the Pasadena Now article, Raphy Timour describes the difficulties faced by one of the clients of PT Benefits:

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ACA Going Off The Rails

“We do the benefits for a small local restaurant and the owner is a woman in her early 60’s. She chose not to early renew. Over the years, to help offset the rising cost of healthcare, she moved to a higher deductible PPO plan. Although the out-of-pocket costs were greater, she chose to pay less each month in premiums. Her group benefits plan renews in March 2014 and her individual rate is going from $532 a month to $925 a month! Yes, her benefits are more extensive, but nowhere near justifying a 74% increase over last year. Why should a woman in her 60’s with adult children be required to have a plan that covers maternity and pediatric dental and vision?”

Why should business owners be penalized who actually have been doing the right thing for years? Why should they be hurt just so others can be helped? Does it seem fair that so many small to mid-sized business owners across not only Pasadena and Southern California, but across the entire country are being slammed so hard or are going to be slammed so hard in their pocketbooks by the Affordable Care Act? Why is Affordable even in the name of the act if the actual results turn out to be the exact opposite of this word – more expensive and more costly?

A Voice Needed Come ACA December Renewals

Since most business clients early renewed, they won’t be facing the real financial challenges of the Affordable Care Act until December. Come December, however, Raphy warns in the Pasadena Now article that “The fourth quarter is going to be a real wake-up call for most employers. There are going to be a lot of shocked and surprised people.” The goal of Pontrelli, Timour & Associates is to help our clients make this tough transition as easily as possible while raising awareness of these challenges in our community in general. To learn more about how ACA might affect your business, please call 626-795-4138 to reach Pontrelli, Timour & Associates and get the help your company truly needs.

Pasadena Now Article And Interview With Raphy Timour About The Affordable Care Act

Reprinted from with permission from Pasadena Now,  this Business Article was titled:

How Is The Affordable Care Act Affecting Small To Mid-Sized Businesses In Pasadena?

The institution of the Affordable Care Act and its effects on business owners and their employees is one of the biggest national stories of 2014. Pasadena Now wanted to break down the implications of this national story by understanding what is happening on a local level. To illuminate how the ACA changes are affecting small to mid-sized businesses in Pasadena, Pasadena Now spoke with Raphy Timour of Pontrelli, Timour & Associates, Inc.

Like most insurance brokers that handle employee benefits, Raphy Timour recommended that most his clients take the early renewal option. As a result, their current plans will stay in place until December of 2014. Most companies will not experience major changes until the end of the year. When those changes come, however, Raphy Timour told Pasadena Now what will happen:

affordable care act, pasadena now

Raphy Timour on ACA

“The fourth quarter is going to be a real wake-up call for most employers. There are going to be a lot of shocked and surprised people. Most plans had to bulk up to meet the minimum essential coverage requirements of the ACA. These new comprehensive plans are both less flexible and more expensive. I believe the middle class in Pasadena are going to be hit the hardest. They won’t qualify for the low-income subsidies and employers will pass off most of the new expenses onto their employees. They will have higher premiums, and higher out of pocket costs when they go to seek services. Healthcare reform will make life harder for a lot of people.”

What exactly is meant by the new coverage requirements? Won’t healthcare reform be beneficial for most people? Aren’t the new essential health benefits a positive thing? When asked this question, Raphy Timour shook his head in frustration:

“You would think that would be the case, but it actually is the opposite. If you currently offer your employees a small group health plan in California that was established or renews in 2014, your plan is mandated to include 10 categories of essential health insurance benefits. Some of these essential benefits make perfect sense like the preventative services that include both annual screenings and wellness visits, inpatient hospital services, emergency services, and prescription drug coverage.  On the other hand, so-called essential benefits now also include the following: acupuncture, pediatric dental and vision services, and a host of other specialized items. These specialized services increase the costs for everyone.  People should have more choices; one size does not fit all.”

Wanting to know more, Pasadena Now asked for a concrete example of how a small business could be affected by these rate increases. Raphy Timour responded by telling us a story about one of his Pasadena-based clients:

“We do the benefits for a small local restaurant and the owner is a woman in her early 60’s. She chose not to early renew. Over the years, to help offset the rising cost of healthcare, she moved to  a higher deductible PPO plan. Although the out-of-pocket costs were greater, she chose to pay less each month in premiums. Her group benefits plan renews in March 2014 and her individual rate is going from $532 a month to $925 a month!  Yes, her benefits are more extensive, but nowhere near justifying a 74% increase over last year. Why should a woman in her 60’s with adult children be required to have a plan that covers maternity and pediatric dental and vision?”

By removing the ability to choose what should be covered, ACA is adding significant costs. Moving forward, what is the best choice for small to mid-sized businesses to make in regards to health insurance? Should they go on the Covered California exchange? Raphy Timour answered these questions with a resigned honesty:

“Healthcare reform is a very complex issue with many perspectives and market forces. Right now, the group insurance market is still the best choice as opposed to the exchanges and the individual policies. There are significantly more options and carriers available with the off-exchange group insurance market, including the largest network of hospitals and medical providers. What is frustrating is that all of the options under the Affordable Care Act seem to be more expensive and less helpful. They tried to squeeze everyone into the same little box. When it comes to healthcare, one size simply is not enough.”

IRS Modifies “Use It Or Lose It” Rule For Health Flexible Spending Arrangements Under The Affordable Care Act

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Pressures of Use It Or Lose It

On October 31, 2013, the Internal Revenue Service issued Notice 2013-71 about the “Use It Or Lose It” Rule for health flexible spending arrangements under the Affordable Care Act.

The notice instituted significant changes that will affect the administration of cafeteria plans under section 125 of the Internal Revenue Code. Pontrelli, Timour & Associates offers a brief outline of these changes as a public service. If you need to know how the specific details affect your healthcare plans, please contact PT Benefits for help.

Use It Or Lose It Update

The main change is a modification of the regulations proposed under section 125 to add a limited exception to the “use it or lose it” rule for health flexible spending arrangements. Employers are permitted to amend plans that provide health flexible spending arrangements to permit up to $500 of unused credits to be carried over and applied towards the following plan year.

It is important to realize that the “use it or lose it” rule is not  completely eliminated. Any unused credit in excess of $500 will still be forfeited.

This new carryover is an alternative to the current “grace period” rule. As a result, a health FSA may not provide for both the new carryover and the current grace period. From a pragmatic perspective, if a carryover is to be provided at all, the choice is between (a) permitting a carryover of a limited amount (up to $500) that can be applied during the entire following year, or (b) permitting a potentially larger carryover that can only be applied against expenses incurred during a specific period of time (one month, two months, three months) that is designated as the grace period.

Use It Or Lose It Modifications

PT Benefits understands if all of these new rules and regulations sound like a sputtering of ancient Greek to you. As a businessman, you are focused on growing your business and not getting lost in a maze of such technical particulars.

If you contact Pontrelli, Timour & Associates with questions, we can provide you the support you need to make sure the “Use It Or Lose It” modifications are effectively applied to your business. To learn more about how PT Benefits can deliver premium health coverage and benefits packages to your employees and guide you as an employer through the maze of the Affordable Care Act, please call 866-782-9899 or fill out our handy contact form.

4 Healthcare Changes And Affordable Care Act Challenges In 2014

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Healthcare Changes In 2014

With the Affordable Care Act now in full force, the overall societal goal is for millions of uninsured Americans to either now have health coverage or to be able to obtain it within the coming calendar year. As a Southern California provider of employee benefits programs and solutions for small to mid-sized companies, Pontrelli, Timour & Associates, Inc. make it a point to keep our clients updated about the ongoing evolution of upcoming healthcare changes and Affordable Care Act challenges in 2014.

Healthcare Changes & ACA

As the new year begins, more than 1.1 million people have gained coverage through the offerings of the Affordable Care Act.  Through the combination of HealthCare.gov with the federal and state exchanges, millions more will be enrolled before the cut-off date at the end of March. By looking ahead at what is to come, the goal of PT Benefits is to make the process of adapting to the changes as smooth and easy as possible for both the employers and the employees at our client companies.

Here Are 4 Healthcare Changes Coming In 2014:

The Shadow Of The Employer Mandate:

Employers need to prepare for the Employer Mandate requirement that companies with more than 50 employees provide health insurance for their employees. Although this requirement was delayed a year by the Obama administration, employers will be surprised by how quickly the deadline approaches. Given the choices that need to be made like wellness discounts and health incentive strategies for employees, decisions need to be made well in advance.

The Requirement Of Pricing Transparency:

A major part of the Affordable Care Act is the emphasis on clarity in relation to health insurance costs. Transparency means an understanding of what exactly needs to be paid by both employers and employees and why.  PT Benefits believes that such price transparency will allow both employers and employees to make better educated choices with less surprises.

The Inevitability Of Shrinking Networks:

In order to save money, insurers will continue to shrink their networks of health care providers, going with the best deals that might not always be the best options for consumers. By relying on providers offering the best rates, insurance companies will limit the options in many plans. Such a shrinking of networks will have a greater effect on ongoing consumers with histories with certain providers. The loss of those providers will prove challenging. In contrast, first-time insurance purchasers won’t miss what they never had in the first place.

The Need For Electronic Records & HIPAA Compliance

With the institution of the PPACA in 2014, the need for electronic records will increase. Electronic records will provide better tracking and analytics while helping to ensure higher standards of record keeping and maintenance. The challenge of more electronic records will be a greater need for HIPAA compliance.

For Pontrelli, Timour & Associates emphasize the above updates are only short capsule descriptions of the bevy of healthcare changes to come in 2014. Luckily, the client companies of PT Benefits do not need to be healthcare experts. We handle such challenges and questions for you, providing a customer-centric approach that focuses on the specific needs of your organization. To learn more about how we can help you, please call 866-782-9899 or fill out our handy contact form.

Kaiser Family Foundation Study Shows Health Insurance Costs Rising For Both Employers And Employees

A Kaiser Family Foundation study revealed that health insurance costs rose in 2013 for employees in the United States. During the same period, American employers experienced a parallel rise in health insurance premiums. Overall, the total cost of employer-provided health benefits increased 4% for family plans and 5% for individual plans.

Increases In Health Insurance Costs

As a provider of premium benefits programs, Pontrelli, Timour & Associates knows from experience that such increases in health insurance costs usually can be mitigated with effective health insurance solutions. Even with the bevy of new challenges resulting from problems raised by the Affordable Care Act, PT Benefits knows how to provide legitimate savings for both the employers and the employees of our client companies.

health insurance costs, kaiser family foundation

Rising Health Insurance Costs

According to the study by the nonprofit Kaiser Family Foundation in conjunction with the Health Benefit & Educational Trust., 57% of firms with at least three employees offered health benefits in 2013. The authors of the study noted the figure reveals a slight change from 2012, when 61% of employers offered health benefits. The 61% of 2012 actually was a slight increase from the 60% of employers offering health benefits in 2011.

The average total cost for a family health plan hit $16,351 this year. In most cases, such costs are split between employer and employee. The typical employee’s share of that premium hit $4,565, up about 6% from 2012. In addition to rising employee premiums, the survey revealed that employees are getting hit with larger deductibles and higher out of pocket costs as well. For example, the average deductible for a health plan that covers only the employee reached $1,135, up from $1,097 in 2012.

Employees of small businesses have been hit particularly hard. It historically has been the case that employees of small businesses pay more for their health coverage than employees at larger companies. Nearly a third of workers at companies with fewer than 200 employees have deductibles of at least $2,000. Does it seem fair that an employee should be penalized for choosing to work for a small business as opposed to the alternative?

Health Insurance Costs Higher In 2014?

Looking forward to 2014, and with the implementation of the PPACA’s Minimum Essential Coverage plans, this trend will continue.  Premium rates will somewhat stabilize, but employees will be faced with significantly higher out of pocket costs and out of pocket maximums.  Another significant consideration for next year will be doctor and hospital networks.  Each insurance carrier will have multiple networks and it will be critical to determine which network of providers will work best for you.

Since PT Benefits understands how challenging benefits program administration can be for small to mid-sized business owners, we do our best to provide the best in services and solutions. As benefits administration experts, we offer the guidance our clients need to avoid the pitfalls of high costs and premiums. To learn more about how we can help you, please call 866-782-9899 or fill out our handy contact form.