Making Changes in Health Insurance Plans

A combination of several factors has no doubt had a negative impact on the economy over the last several years. The recent state of the economy, combined with the increasing cost of healthcare, has made it difficult for all size employers to continue with the same level of employee benefits. In the case of health insurance, future plan modifications may be necessary over the next few years.

After much consideration, these modifications may take the form of increasing deductibles, out of pocket maximums, office visit copays, and prescription copays. Employees may also be required to increase their contribution amount. A vast majority of employees understand the current strain that face their employers. Employees are aware of the difficulties particularly faced by medium and small business owners. When the outlook for your business does improve, your organization's ability to capitalize will greatly be dependent on your ability to attract and retain productive employees during difficult economic times.