Heath Care Plans
One of the biggest human resource issues facing businesses today is the skyrocketing cost of health insurance.
All employers want to provide comprehensive health insurance benefits for their employees. An attractive benefits package is an asset to any business and a necessity for most individuals. Companies can even attract and retain employees by offering reasonable premiums.
However, the cost of health insurance is increasing at staggering rates. Companies that previously paid 100% of the cost are now being forced to cover only a percentage, leaving the remainder for the employee. And that percentage left for the employee is increasing as many companies are paying less and less of the cost.
In 2007, employer health insurance premiums increased by 6.1 percent - two times the rate of inflation. The annual premium for an employer health plan covering a family of four averaged nearly $12,100. The annual premium for single coverage averaged over $4,400[1].
The cost of family health insurance nationwide is increasing dramatically for employees without anywhere near an equivalent increase in family income. If this trend continues, more workers are likely to become uninsured because of the expense.
One of the reasons for the increase in health insurance is of course employee health. Group health insurance providers base their premiums on the overall health of the group – the average cost of claims paid. In a plan year, if the insurer has paid a large number of high dollar claims, they will adjust their rates accordingly for the next plan year. Therefore, the more claims the higher the rates. Employees with serious health conditions can affect their more healthy co-workers by raising the cost of health insurance and health care in general.
Obesity in America is an increasing health issue. However, it is not obesity alone that affects the cost of health insurance but it is the wide range of health problem which often accompany a medical condition
All employers want to provide comprehensive health insurance benefits for their employees. An attractive benefits package is an asset to any business and a necessity for most individuals. Companies can even attract and retain employees by offering reasonable premiums.
However, the cost of health insurance is increasing at staggering rates. Companies that previously paid 100% of the cost are now being forced to cover only a percentage, leaving the remainder for the employee. And that percentage left for the employee is increasing as many companies are paying less and less of the cost.
In 2007, employer health insurance premiums increased by 6.1 percent - two times the rate of inflation. The annual premium for an employer health plan covering a family of four averaged nearly $12,100. The annual premium for single coverage averaged over $4,400[1].
The cost of family health insurance nationwide is increasing dramatically for employees without anywhere near an equivalent increase in family income. If this trend continues, more workers are likely to become uninsured because of the expense.
One of the reasons for the increase in health insurance is of course employee health. Group health insurance providers base their premiums on the overall health of the group – the average cost of claims paid. In a plan year, if the insurer has paid a large number of high dollar claims, they will adjust their rates accordingly for the next plan year. Therefore, the more claims the higher the rates. Employees with serious health conditions can affect their more healthy co-workers by raising the cost of health insurance and health care in general.
Obesity in America is an increasing health issue. However, it is not obesity alone that affects the cost of health insurance but it is the wide range of health problem which often accompany a medical condition