Don’t Complain Unless You Can Offer a Solution!

Don't Complain Unless You Have a Solution - RMS Advisory Services, Outsource CFOAlmost every day you hear bad stories about people either dealing with triple digit increases on their health insurance premiums, being dropped from by an insurance company or some other issue about health insurance. Yet, we never hear of GOOD stories about solutions for health insurance issues!

I used to tell my direct reports, “don’t complain about a certain frustration or problem unless you’re prepared to offer a solution!”I was recently charged with helping a company go through a health insurance open enrollment period.  The situation was rather complex as we had issues surrounding a controlled group of companies. This means that the company cannot offer better insurance coverage at a lower cost to a group of employees without offering that same coverage and cost to all your employees.  To that end, it turned out that the costs to the company and to employees went up 68% for employee coverage—almost 100% for family coverage and an over 45% increase to the company.  

Unfortunately, small companies cannot absorb these types of costs so ultimately the costs get transferred to the employees in higher health  premiums or higher deductibles/out of pocket.  Bear in mind, in this situation there was a $6,300 max out of pocket; this means that the employee is required to pay the first $6,350 or $13,200 for family healthcare or medical emergency BEFORE the insurance covers the cost.

What’s an employee supposed to do? 

Find another job where the employer pays more of the premium?  Employees are often held hostage to work for employers in jobs in where they’re perhaps disengaged, enduring long commutes, or stressed out… the list goes on and on… just  so  that can obtain  low cost medical coverage.

What does the employer need to do to retain their talent?  

In my situation, I was simply frustrated that I couldn’t offer the employees another option!

Fast forward to recent article I read, in the April 21, 2017 Arizona Republic, about an Avondale, Arizona couple who experienced a 136% increase in their insurance premium.  Their premium increased to $3,316, three times the cost of their monthly mortgage payment!

Yes! The triple digit increases cited by Trump in Arizona are real. Until a repeal or replacement of Obamacare is completed, we will continue to be held hostage by insurance companies and or employers that can provide a low cost health insurance program.

Having been a small business-owner myself, and part of the growing population of solopreneurs, I am also subject to this triple digit increase.

As I stated earlier, don’t complain unless you’re willing to offer a solution, but you see, I have found solutions!

The co-op health market is the solution. Check out these three providers: Medi-ShareLiberty Health Share or Altrua Health Share. All three solutions are well below the exchange rates and maybe even below the group insurance rates offered by your employer.

What other solutions do you have?  Has anyone had any experiences with the providers mentioned above, other co-op providers or other options not mentioned?

Let’s share ideas and continue the conversation about how to offer MORE solutions not just complaints.

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