Health Insurance
Part Five of a series of articles on health insurance cost savings ideas.
“Ways to Lower Your Group Health Insurance Premiums FAST!”
Make your plan contributory and install a Section 125 Pre-Tax Premium Only Plan. Some companies still pay 100% of their employees health care premiums. Consider having employees to pay at least a 10 to 20% contribution at a minimum. Most carriers won’t allow you to cost share with employees more than 50% of premiums, and even if they did – employees would tend to opt out and damage your group’s participation percentages. Allow employees to make premium contributions via a Section 125 Premium Only, or “POP Plan.” POP Plans are inexpensive and relatively easy to install. They also help make premiums more affordable to employees.
