General Inquiries

Health Insurance renewals

  • 1.  Health Insurance renewals

    Posted 28 days ago

    I know this is kind of a loaded question, and a lot depends on how you did this past year claims-wise, but would like some feedback on what folks are seeing as percentage increases (or decreases) with their health insurance renewals.

     

    I ask because our carrier is proposing we lock into a 5% increase now with our January 1st renewal.  We've had a pretty good year so far with our claims.  I'm a little leery of the proposal.  

     

    Thanks,

     

    Robert McManus

    Chief Financial Officer

    Direct: 404.965.9349 

    Main: 404.361.5154 | Fax: 404.965.9355

    PO Box 45717 | Atlanta, GA 30320

    www.msrs.com

                

     

     

     

     



  • 2.  RE: Health Insurance renewals

    Posted 27 days ago
    We had been with UHC for years and recently switched to a level funded plan with Humana.  We couldn't be happier!  Humana has a relationship with a program called Go365, which is a wellness program.  We pay for ALL of our health benefits for our employees including dependents because we have a small group of folks.  However, our prices would rise between 7-12% each year.   If employees participate in Go365 which keeps track of steps, exercise, etc., then not only does the employee receive gift card incentives but the company also gets a reduction in the employee's premium as soon as the employee reaches "Gold" status.   It's a great way to enforce being healthly!  To encourage our employees to participate we basically said we would continue to cover ALL of their benefit, however, if they didn't reach "Silver" status in 3 months, then we would surcharge them $25-$50 a month, etc.   So it is now in the employees control to determine how much benefit that can drive out of their coverage.

    Hope this helps!

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    Meredith Hornung
    Secretary
    Comanche Construction Inc.
    Olathe KS
    (913) 782-2980
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  • 3.  RE: Health Insurance renewals

    Posted 27 days ago
    We are with Blue Cross and we would be thrilled with 5%.  We had a good claims year last year and our original renewal came back at a shocking 21%.  After we shopped the plan with competitive carriers and moved some things around, we eventually settled at 9% increase which was still rather painful.  Definitely worth looking around and coming back to your carrier for a chance to match a lower rate, but I'm not sure you'll ever get much less than 5% per year based on my experience.

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    Mariam Bruce
    Controller
    Affordable Solar Installation, Inc.
    Albuquerque NM
    (505) 944-4287
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  • 4.  RE: Health Insurance renewals

    Posted 27 days ago

    I received a 19% renewal so I say lock it in!

     

    Sincerely,

    Shawn Erickson

    Chief Financial Officer

     

    C.J. Erickson Plumbing Co.|4141 W. 124th Place|Alsip, Illinois 60803

    P 708.224.4421|f 708.371.3885|main 708.371.4900

     






  • 5.  RE: Health Insurance renewals

    Posted 26 days ago
    To me, any 5% renewal should be locked in.  In the past 20 years, I have probably had only about 6 or 7 renewals which allowed me to keep coverages the same with only single digit increases.  And only twice has it been offered first thing.  Lock it in!

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    Kevin Foley CCIFP, CPA
    Chief Financial Officer
    Madison Concrete Construction
    Yardley PA
    (215) 768-1053
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  • 6.  RE: Health Insurance renewals

    Posted 26 days ago

    Thanks for feedback on this, you guys are the bestest!

     

     

    Robert McManus

    Chief Financial Officer

    Direct: 404.965.9349 

    Main: 404.361.5154 | Fax: 404.965.9355

    PO Box 45717 | Atlanta, GA 30320

    www.msrs.com

                

     

     

     

     






  • 7.  RE: Health Insurance renewals

    Posted 25 days ago
    We just met with our Broker to go through our renewal which came in at 6%. I asked the questions as to what they were seeing in increases this year and she said anywhere from 6% - 15%.  A 5% increase is pretty good.

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    Lisa Moody
    Director of Finance
    PWC Builders
    McLean VA
    (978) 302-9508
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