Agents are putting in long hours to create unique solutions to the number one business cost concern - employee health care, as the economy remains slow.
Mike Slaughter, Director, Employee Benefits, spends long days on the road meeting with Michigan businesses developing new solutions to the age-old problem of rising employee health care costs.
Slaughter said, “My job is to review current health insurance and find solutions to the cost of coverage. In the past, when the Paul Goebel Group would make cost saving recommendations, business owners were reluctant to make changes. Today however, it is a totally different story. Each Michigan business is different so we have been staying up late designing customized insurance solutions that minimize the effect on the employees and at the same time provide solid cost savings to the business owner.”
Paul Goebel Group offers five very basic health insurance cost saving recommendations for Michigan businesses to consider:
1. Consider reviewing your current health plan design. If you have a PPO plan, take a look at an HMO plan.
2. Raise the deductible - Raising the deductible offers the greatest per dollar/per employee cost saving with the lowest effect on the company workforce.
3. Stress wellness lifestyles - Look at health and wellness programs through the local YMCA. Encourage your employees to workout. Replace the soda and candy bars with more healthy choices in the vending machines.
4. Increase employee’s share of health premium - If the company is paying 75%, they may want to consider only paying 50% of the monthly health premium.
5. Raise employee co-pays - This is the toughest choice because you want your employees to visit their physician’s office as a preventive measure.
Slaughter added, “Paul Goebel Group insurance specialists are finding that no Michigan business owner wants to restructure and redistribute the health care cost coverage mix but the current times are driving tough choices. I do take a great deal of satisfaction in developing insurance plans that improve the business cash flow and at the same time, still offer good health benefits to Michigan’s workforce.”
Paul Goebel Group www.paulgoebelgroup.com
Contacts:
Paul Goebel Group
Rick Kamel for interviews or questions
(312) 775-8399
