Master Builder

September 2016

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memBersHiP vaLue BY WILL COMPTON VP OF MARKETING CAPITAL BENEFIT SERVICES Healthcare Corner A s we approach the end of 2016, it's time to begin working with consultants and insurance broker partners to fi nd the right employee benefi t plan. Even with a seemingly vast array of options, it's becoming evident that the insurance market at large continues to experience troubling rate increases. Throughout the summer, insurance carriers have been fi ling their rates for 2017 plans in the individual and small group markets with the insurance commissioner's offi ce. Many of the increases have been greater than originally anticipated. The overall average rate increase submitted is 13.5 percent while the actual increase ranges between 7.4 to 20 percent. Compared to an average rate increase of 5.4 percent in 2016, this marks a steep year-over-year jump in what was hoped to be a slowing of healthcare infl ation. Health insurance is like any business. The premium (revenue) coming in must cover the expenses (costs) going out. When health insurance costs outrun revenues, the eff ect is premium increases. These increases challenge employers to secure a strong benefi t package while maintaining a sustainable and predictable cost trajectory. The MBA Health Trust has been serving the health insurance needs of many members for numerous years. While the MBA Health Trust is not immune to increasing costs, the large number of participating members provides a long-term rate stability that a single employer cannot achieve alone. As the year ends and your company is faced yet again with the sharply increasing costs of employee benefi ts, make sure to do your homework about the plan you choose. Understanding the true costs of the plan along with the network of participating providers is important; surprises in employee benefi ts are usually not good ones. To learn more about how the MBA Health Trust can help you with a long-term benefi t solution that's good for your employees and your bottom line, call 425.641.8093 or visit 36 master builder 09.16

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