QuickQuote Insurance Blog


Group Health Insurance Cutbacks

11/05/2007 By: Tim Bain

Aside from padding the annual Christmas, year-end, profit-sharing, etc. bonus, there is another reason why now may be a great time to get on your employer's good side. According to a national survey of company chief financial officers and other senior executives by Grant Thornton, LLP, 15 percent of those companies that currently offer group health insurance benefits to their employees plan to reduce those benefits within the next 12 months.

As costs for group health insurance plans continue to increase annually, businesses small and large will continue to look for ways to mitigate the increases. Unfortunately for many, that means the reduction of these benefits or even the elimination of health insurance altogether. Luckily, affordable individual/family health insurance plans may be an option for many.

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1 User Comment(s)

1. anonymous on 12/12/2008 said:

We can only hope that our new president will follow through on his promises of healthcare reform and help us save some money. As a webmaster for a group healthcare and financial products broker in Dade and Broward counties in South Florida, I see just how much the costs of care have risen here due to the heavy population of retirees and their needs for prescription drugs and just plain general health pictures. I am approaching retirement myself and have no desire to have to spend my hard earned annuities or IRA and 401K that I have saved as part of my retirement planning on healthcare insurance Car pooling can help save a little, but healthcare reform would save me a whole lot more.

Jean Drogus
www.securefloridian.com