ANDOVER, MA--(Marketwire - February 28, 2011) - New health insurers enter Massachusetts are giving employers the opportunity to save money on premiums by offering high-deductible health plans here for first time, broker Jim Edholm writes in Massachusetts Lawyers Weekly.
Until recently, such plans were available only to employers with 50 insured employees or more. No longer.
Now firms with as few as about eight insured employees can benefit. The new generation of money-saving high-deductible plans requires medical underwriting to qualify, Edholm writes.
"Every employee in your group must complete a detailed, confidential medical questionnaire," Edholm writes. "It will ask about family history, your personal (and family) experience, height, weight, and lots of other details."
Based on the answers to those questions, the insurer will calculate the rate -- and the news may be very good.
"If your employees are healthy, your rate may be astonishingly low. So the first order of business would be to slog through the effort of having all your people complete the forms and see what possible level of reward there might be. If you can save money, it will help both them and your firm -- and not just this year, but many years," he writes.
Edholm is president and founder of Business Benefits Insurance (http://www.group-insurance-guide.com) of Andover, MA. BBI has been guiding Massachusetts employers to cost-effective benefit selection and design for more than a quarter century.
BBI's guide, "How Attorneys Can Lower Healthcare Costs, Maintain Benefits and Put Cash in Employees' and Partners' Hands" is available by emailing Jim at JimEd@bbibenefits.com or calling 978-474-4730.
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Contact:
Henry Stimpson
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henry@stimpsoncommunications.com