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Quick Marketing Tip - 6.30.08
According to a study by PriceWaterhouseCoopers released in June, employer health care costs are poised to rise almost 10% in 2008, more than double the annual inflation rate, and nearly that much again (9.6%) in 2009. Health care providers, insurers, and employers will have to monitor medical costs carefully if to avoid a resurgence of the double-digit annual increases seen in the past. Many employers will turn to the representatives with whom they have their group health policies for answers and savvy producers can take the following steps to help clients combat rising costs:
- Get updated census data and visit the possibility of clients' purchasing self or partial self-insurance.
- Analyze higher participation by employees or reduce matching contributions to 401K and use that money to help supplement costs.
- Use this study's projection as a door opener for new clients by creating a postcard or pre-approach letter that positions you as knowledgeable about the current health insurance issues impacting business owners.
Source:
"Health costs to rise nearly 10 percent." Yahoo!News 17 June 2008. Associated Press. 23 June 2008 <http://news.yahoo.com/s/ap/20080617/ap_on_bi_ge/healthcare_costs>
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