Health Insurance Cincinnati
Part Six of a series of articles on health insurance in Cincinnati and Northern Kentucky.
“Ways to Lower Your Group Health Insurance Premiums FAST!”
Appeal your rate increase at renewal. This option is too often overlooked by employers and agents alike! At your plan renewal, many group insurance companies will allow you to negotiate a lower renewal rate – all you have to do is ask! Further, shopping for other more competitive rates may reveal the possibility of savings, but you may loathe the hassle of switching insurers. If this happens, appeal to your current insurer! If you’ve been offered a plan at a better rate, some companies will try to match or come close to your new offer in order to save the account. It doesn’t always work – particularly if your loss ratio is high (loss ratio = claims divided by premiums). But, it is certainly worth a try!