It’s that time of year again for many employers. Health insurance renewals may feel like a pain; however, they may be one of the most important decisions you make each year.
 
Your renewal is the time to start a conversation with your agent or broker about whether your current plan is working well for you and what type of renewal options may be available for your small business.

The answer to this question is a resounding “Yes!”
 
Let me start by saying the Affordable Care Act (ACA) was set up as an option to help more people afford, and have access to, health insurance. Though it did increase the number of insured people in the early days of the ACA, small business owners found it increasingly difficult to find anything affordable about the plan. ACA rate increases have made coverage unaffordable for many small employers. Insurance companies responded to this by creating options for small business owners outside of the ACA that still are qualified health plans.
 
A “new” plan that arrived on the scene soon after the advent of the ACA is really not new at all. It’s been around for some time now. The new option available to small business owners is called “level funding” and can save small businesses significant money while still providing an excellent health plan for employees.