Small Group Employers In Connecticut May Want To Consider Alternatives
Group health insurance rates are becoming a greater burden on small employers with every renewal. Double digit rate increases have become the norm. So what can a small employer do to help off-set rate hikes?
Most employers have simply been going by the standard formula of increasing the employees contribution toward the plan premium and raising medical and Rx copays to keep things at a manageable level. More proactive groups use either HSA or HRA designs in order to offer a plan with a more substantial deductible in order to lower premiums. Such strategies are becoming more and more popular every year.