Group health insurance policy renewal rates are being released by insurance companies right now. On average, Indiana employers are seeing a 10-11% increase this year. As a business owner, you want to provide a good work environment that attracts and retains employees, but not at the cost of a healthy balance sheet. Fortunately, as a member in good standing of BAGI, you have a unique opportunity to help you manage these seemingly competing goals.
BAGI Group Health Insurance Program
This Program uses the pooling concept through BAGI membership to bring about a more even spread of risk, less rate volatility, and a viable answer to the double-digit rate increases we are seeing this year. Wharton & Power is the sole administrator of the program.
- pool your employees into a wider group of insured individuals, thereby diluting the effects health risks have on your policy rates
- avoid large rate increases by tapping into group buying power
- opt-out of the community-based rating pool, which particularly benefits companies with healthy employees
- choose from 12 different plans, from benefit-rich and low-out of pocket plans, all the way up to plans with the maximum allowed federal out-of-pocket limits
If you are facing a huge jump in your group health insurance premiums, give us a call at 317.663.4138 or send us an email. We have the knowledge and experience to help you balance employee needs with bottom-line concerns.