Spiraling health-care costs have forced many small employers to reduce the benefits they offer — or, in some cases, eliminate coverage altogether.
But small companies do have options for keeping costs in check while still providing benefits and services to employees. Here are some to consider:
Discounts for Healthy Living:
Employees with healthy lifestyles typically end up incurring fewer health-related expenses. But small companies often don’t have the resources to bring in programs like cholesterol screenings and smoking-cessation classes.
So some insurers are offering to do the screening work as part of an insurance plan, with no additional cost.
Principal Financial Group Inc. is one of a handful of insurers offering a program designed for small companies that aren’t self-insured. The program can cost as much as 5% less than traditional insurance plans, though it varies by company demographics and location.
Workers submit to a voluntary screening, which can take place in their own workplace, and are given a point value based on factors like smoking status, body-mass index and blood pressure. People with higher scores are rewarded with lower insurance co-pays and deductibles.
Photo by MSDesigns.