Update August 28 - 2010 All About "Group Insurance" Information By Insurance Experts

Group insurance is an insurance that covers a group of people, usually who are the members of societies, employees of a common employer, or professionals in a common group. Group insurance may or may not be converted to individual coverage. As group insurance gets big business for an insurance company with minimum operational expenses (under one master policy issued to an employer, union or any recognized group), it is usually less expensive than individual policies. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than for the purposes of obtaining insurance. In other words, people belong to the group not because they possess some high-risk factor which makes them more apt to purchase insurance (thus increasing adverse selection); instead they are in the group for reasons unrelated to insurance, such as all working for a particular employer. We provide you with information of group insurance experts, please compare before applying.

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The Shady Practices And Underhanded Tactics Used
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PEO Group Health Insurance Premium Renewal Rates Increase
By Bruce Silver


Professional Employers Experience Double Digit Increases Again
Group health insurance premium renewals are going out and the reports are not encouraging. It's that time of the year when employee leasing companies and professional employers send small business owners their new health rates for the coming year. Employers across the nation are being told what to expect, and it's not exactly what they want to hear. Especially now, when the economy is starting to stabilize.
Many of our small business clients who have been relying on their PEO partner to keep their health insurance rates low, are finding out that it's no longer the case. Business owners with some of America's best known and largest human resource outsourcing firms, Administaff, ADP Totalsource, and TriNet / Gevity HR have experienced another round of double digit increases. CFO's and HR managers have complained about increases from Alphastaff HR, another "Top 10" provider. Their clients renew in September, and a few said they received cost masters with 35% rate increases across the board from Aetna.
Bait and Switch?
Many of our small business clients are learning that some of their health plan choices have been replaced with new healthcare plans that offer more limited networks with fewer in-network providers, or of medical plans that are restricted by geographical location. Just last week we were contacted by a primary care practice with 3 offices in West Virginia. They told us how their current PEO had just informed them that an entire network of plans was being eliminated. The majority of their employees will be left with just one option, and a very expensive one at that. Needless to say, they are now looking to us to help the doctors find a better option for their staff.
It May Only Be RoundOne?
The worst may be yet to come. September through January is when over 75% of group health insurance plans are set to renew. This includes most of the nation's largest and most successful staff leasing, HR outsourcing, and professional employer services firms. Yet to announce their new health plan renewals are leading HR and employee benefits providers Advantec HR, Oasis Outsourcing, and SCI Staffing Concepts, who are scheduled to renew in the month of October, Frank Crum's health rates are good until November, and Accord HR and Fortune Business Solutions renew in January 2011.
It is important to note that while these industry giants, and their highly compensated employee benefits advisors, are still battling it out with their health insurers, the fate of hundreds of thousands of small and midsize businesses are being decided. Combined, these PEOs and employee leasing companies represent about two hundred and fifty thousand (250,000) business owners and about five million (5,000,000) employees nationwide. Let's hope for the best.
Employers Rx combines over 40+ years of Professional Employer Sales, Management, and Insurance industry experience. We have built trusted relationships with over 40 of the nation's leading Payroll Administration, Employee Leasing, HR Outsourcing and Professional Employer Organizations.
We help business owners and entrepreneurs to identify and transfer their employee management liability and responsibility to qualified third parties. We work with many of the most recognized and qualified (ASO) Administrative Service Organization, (BPO) Business Process Outsourcer, (HRO) Human Resource Outsourcer, Employee Leasing and (PEO) Professional Employer Organizations nationwide. Discover more at http://www.employers-rx.com

Recommended Program
An Insurance Insider Exposes
The Shady Practices And Underhanded Tactics Used
To Devalue Claims For Insurance Company Profit

Back To Insurance Contents
Back To General Contents ( Home )
Back To The Top

Article Source: http://EzineArticles.com/?expert=Bruce_Silver

Update August 11 - 2010 All About "Group Insurance" Information By Insurance Experts

Group insurance is an insurance that covers a group of people, usually who are the members of societies, employees of a common employer, or professionals in a common group. Group insurance may or may not be converted to individual coverage. As group insurance gets big business for an insurance company with minimum operational expenses (under one master policy issued to an employer, union or any recognized group), it is usually less expensive than individual policies. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than for the purposes of obtaining insurance. In other words, people belong to the group not because they possess some high-risk factor which makes them more apt to purchase insurance (thus increasing adverse selection); instead they are in the group for reasons unrelated to insurance, such as all working for a particular employer. We provide you with information of group insurance experts, please compare before applying.

Recommended Program
An Insurance Insider Exposes
The Shady Practices And Underhanded Tactics Used
To Devalue Claims For Insurance Company Profit

PEO Group Health Insurance Premium Renewal Rates Increase
By Bruce Silver

Professional Employers Experience Double Digit Increases Again

Group health insurance premium renewals are going out and the reports are not encouraging. It's that time of the year when employee leasing companies and professional employers send small business owners their new health rates for the coming year. Employers across the nation are being told what to expect, and it's not exactly what they want to hear. Especially now, when the economy is starting to stabilize.

Many of our small business clients who have been relying on their PEO partner to keep their health insurance rates low, are finding out that it's no longer the case. Business owners with some of America's best known and largest human resource outsourcing firms, Administaff, ADP Totalsource, and TriNet / Gevity HR have experienced another round of double digit increases. CFO's and HR managers have complained about increases from Alphastaff HR, another "Top 10" provider. Their clients renew in September, and a few said they received cost masters with 35% rate increases across the board from Aetna.

Bait and Switch?

Many of our small business clients are learning that some of their health plan choices have been replaced with new healthcare plans that offer more limited networks with fewer in-network providers, or of medical plans that are restricted by geographical location. Just last week we were contacted by a primary care practice with 3 offices in West Virginia. They told us how their current PEO had just informed them that an entire network of plans was being eliminated. The majority of their employees will be left with just one option, and a very expensive one at that. Needless to say, they are now looking to us to help the doctors find a better option for their staff.

It May Only Be RoundOne?

The worst may be yet to come. September through January is when over 75% of group health insurance plans are set to renew. This includes most of the nation's largest and most successful staff leasing, HR outsourcing, and professional employer services firms. Yet to announce their new health plan renewals are leading HR and employee benefits providers Advantec HR, Oasis Outsourcing, and SCI Staffing Concepts, who are scheduled to renew in the month of October, Frank Crum's health rates are good until November, and Accord HR and Fortune Business Solutions renew in January 2011.

It is important to note that while these industry giants, and their highly compensated employee benefits advisors, are still battling it out with their health insurers, the fate of hundreds of thousands of small and midsize businesses are being decided. Combined, these PEOs and employee leasing companies represent about two hundred and fifty thousand (250,000) business owners and about five million (5,000,000) employees nationwide. Let's hope for the best.

Employers Rx combines over 40+ years of Professional Employer Sales, Management, and Insurance industry experience. We have built trusted relationships with over 40 of the nation's leading Payroll Administration, Employee Leasing, HR Outsourcing and Professional Employer Organizations.

We help business owners and entrepreneurs to identify and transfer their employee management liability and responsibility to qualified third parties. We work with many of the most recognized and qualified (ASO) Administrative Service Organization, (BPO) Business Process Outsourcer, (HRO) Human Resource Outsourcer, Employee Leasing and (PEO) Professional Employer Organizations nationwide.
Discover more at http://www.employers-rx.com

Recommended Program
An Insurance Insider Exposes
The Shady Practices And Underhanded Tactics Used
To Devalue Claims For Insurance Company Profit

Back To Insurance Contents
Back To General Contents ( Home )
Back To The Top

Article Source: http://EzineArticles.com/?expert=Bruce_Silver