Healthcare Options with Over 50 Employees Part 1

So when a health insurance carrier underwrites your account, it’s different based on the size of your group. So let’s take a look, for example, at a group between 50 and 100 employees. In this size group, actually most, most companies still are fully insured. But unlike the under 50 marketplace, once you hit 50 lives, your claims experience starts to kind of get looked at a little bit as they evaluate your renewals each year.

So if you’ve had a couple large claims or there’s some medical conditions going on in your group, there’s a likelihood that your pricing might be a little bit higher than if they weren’t there. So this kind of gets a little bit subjective because actually the insurance carriers don’t tell you.

So I’ve had employers really surprised, because maybe there was a significant medical condition or a serious illness, and possibly it wasn’t an employee, it could have been a dependent, and the employer had no idea anything was happening, and they got a 30 percent rate increase in this, in this size category because of a significant medical condition they didn’t really even know anything about.

So, the best that you can do in this case is take your account out to bid, take it out to the insurance marketplace and see what the other underwriters kind of feel about your account.

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