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Maximizing Your Benefits: Total CHoice Through CH Insurance's 50 Under Fifty Program


For small businesses across Upstate NY, it’s crucial to evaluate and enhance your employee benefits offerings. Joe Courcy, Group Benefits Expert at CH Insurance, sheds light on current concerns that business owners have in today’s rate environment, along with addressing the smartest way an owner can proceed as they prepare for 2024.


Rising Rate Environment

Certainly, the rising rates for group benefits are a significant concern for business owners across the country. The landscape of employee benefits is constantly evolving, and several factors contribute to the increasing costs, leaving business owners understandably worried. Let's delve into this issue:


1. Healthcare Inflation: Healthcare costs have been steadily rising for years, far outpacing general inflation rates. These increases can significantly impact group health insurance premiums. Factors like the cost of medical treatments, prescription drugs, and advancements in medical technology all contribute to healthcare inflation.


2. Aging Workforce: As the population ages, the demand for healthcare services increases. Older employees tend to require more medical attention and care, driving up healthcare utilization and, subsequently, insurance costs.


3. Chronic Health Conditions: The prevalence of chronic health conditions like diabetes, heart disease, and obesity has surged. Managing these conditions can be expensive, leading to higher claims and increased insurance premiums.


4. Prescription Drug Costs: The cost of prescription drugs has been a particularly acute issue. The introduction of specialty drugs and the rising prices of existing medications put pressure on insurance plans, translating into higher premiums.


5. Regulatory Changes: The regulatory landscape surrounding healthcare is complex and frequently changing. New requirements and mandates can increase administrative burdens and compliance costs, which may ultimately affect premiums.


6. Market Consolidation: The consolidation of healthcare providers, hospitals, and insurance companies can reduce competition and drive up prices. This can limit choices for businesses looking for affordable group benefit options.


7. Pandemic-Related Costs: The COVID-19 pandemic brought unforeseen healthcare expenses, including testing, treatment, and vaccinations. These expenses had to be covered, adding to the overall healthcare cost burden.


Business owners are understandably concerned about the impact of rising benefit costs on their bottom line. It can strain their ability to offer competitive compensation packages to attract and retain talent. To address these concerns, many employers are exploring innovative strategies such as cost-sharing with employees, and implementing wellness programs to improve overall health and reduce claims.


Total CHoice

Working with experienced benefits advisors, like those at CH Insurance, can be instrumental in helping businesses navigate this complex landscape. Joe Courcy and his dedicated team, can provide insights into cost-containment strategies, help design benefit plans that align with business goals, and assist in selecting a competitive insurance provider.


The "50 Under Fifty" Advantage

While CH can partner with companies who have over fifty employees, we appreciate the distinct challenges that small businesses face when it comes to providing competitive benefits packages. That's why we developed the "50 Under Fifty" program in 2019, tailored precisely to the needs of businesses with fewer than fifty employees. Here are some of the top reasons why our program might be the right choice for your small business:


1. Total Access to CH Connect:

- Say goodbye to paperwork! With our online enrollment platform, CH Connect, you can easily log in and make all your benefit elections. Streamline the process and go paperless for a hassle-free experience.


2. COBRA Total Coordination:

- Avoid the headaches of COBRA compliance and mailings. As a "50 Under Fifty" Small Business Health Insurance partner with CH, we handle all COBRA matters for you, ensuring compliance and peace of mind.


3. HR Hotline:

- We provide a dedicated HR hotline for when issues arise or you need guidance. Plus, as a bonus, we offer a FREE Employee Handbook review to help you maintain HR compliance.


4. Your Total Advocate:

- Our team of Small Business Health Insurance Experts is your ally. When issues like denied claims, prescription refusals, or approval roadblocks arise, we step in. We work directly with carriers, schedule peer reviews, and keep you informed every step of the way.


5. Total CHoice: *THIS IS A BIG ONE*

- While all insurance agents work with the same rates, it's our commitment to service and partnership that sets us apart. With us, you gain access to multiple carriers, including all 32 Excellus plans, allowing you to make informed decisions during renewals.


6. Financial Wellness:

- Our program offers access to financial consulting experts, benefiting both your company and employees. From commercial lending consulting to personal wealth management and key-person life or disability insurance, we have your financial well-being covered.


Being Proactive Pays Off

Proactive measures and expert guidance can help mitigate some of the rising rate challenges owners face, ensuring that businesses can continue to offer valuable benefits to their employees without compromising their financial stability. Courcy encourages small and medium-sized businesses in Upstate NY to consider the unparalleled advantages of CH Insurance's "50 Under Fifty" program (customized for businesses under 50 employees). Our dedicated team is here to help you design benefits packages that attract top talent, manage costs efficiently, and ensure your business's success.


If you have any questions or wish to explore how CH Insurance can support your business, please feel free to reach out to me directly. JCourcy@CHInsurance.cc. *Please note if your company has over fifty employees, we can still work with you to support your benefits program; in fact we have many businesses like this as partners. If you’re a business with under fifty employees, this special program is designed specifically for you. I'm committed to assisting you in navigating the intricacies of benefits administration and making well-informed decisions that benefit your organization and your valued employees. Because CH is in your corner… every day, every way.

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