More on the wellness topic...employers are offering too much in the employee benefit area? Is this the carrier telling the employer to reduce benefits to save costs? Also, cited was the comment that employers are failing to embrace a wellness program to reduce costs. BD
Considering Greg Bass has completed two Ironman Wisconsin races, you'd figure health insurers would love to cover the fit and trim 46-year-old. Well, not exactly. Bass is facing a staggering 30 percent hike in premiums from Physicians Plus Insurance Corp. for himself and fellow employees at Park Printing in Verona. As third generation owner of the family business, Bass prides himself on providing competitive benefits to his skilled, albeit graying, workforce. But the cost of a top-quality health plan with limited co-pays and deductibles is a benefit the small business can no longer afford, he said.
Kathryne McGowan, vice president of sales and marketing Physicians Plus, declined to speak specifically about the Park Printing situation, citing client confidentiality rules. But she said companies getting hit with "above market" premium increases are either offering too much in employee benefits or have failed to embrace a wellness culture in the workplace.
"At some point, with a huge deductible and these high co-pays you wonder if people even have insurance," he said. Moreover, with the modern credit checking system Peterson said it doesn't take much for a sick person with unpaid medical bills to end up in "electronic debtor's prison."
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