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We’ve usually written about topics that directly translate to money: Designing plans to cost as little as possible without reducing benefits or negotiation tactics with insurance reps that everyone should know. This post does not.
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 A Strange Industry
Large group health insurance is weird. Often things work the opposite of the way they should in this industry so it’s good to keep an eye out for quirks that work to your advantage. Here are three things I think everyone should be aware of.  One of our most requested issues by our clients is help with a Department of Labor audit, and it’s easy to see why. The fines for submitting documents incorrectly or without critical information can easily create an add up to hundreds of thousands of dollars, and that’s without taking into account the lost time from administrators and lawyers fees.
This article will make you as prepared as you can be without hiring a lawyer to go over your accounting and documentation. Don’t worry though, it’s not complicated, it just requires some planning and a small amount of organization.  Here are the two techniques we found essential to saving 11% on our Autism Therapy client's bill this year.
A Broken Industry In recent years anything related to health insurance has been given a bad name. Condemned as broken, anyone in the industry is met with skepticism. And rightly so! Everyone in the industry feels the same, but even in this broken industry good people figure out ways to make business less painful. Most brokers can compete on price, but the cost for Blue Shield usually looks a lot like the cost from Anthem, and the cost from United. There's only so much that can be negotiated away, so in order to really cut costs something more must be done. |
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