During mankind’s first days, hanging out by yourself was problematic for a number of reasons including (but not limited to) being eaten or run over by some large animal that you were probably hunting. So…the first people learned quickly that hunting for things in small groups worked out pretty well.
In the much wilder kingdom of health insurance and employee benefits, we are seeing more small employers going with small group plans rather than leaving employees to the individual health plans. That is because as more carriers leave the individual market, there are fewer choices. And as it turns out, the power of small groups still holds many advantages over going it alone including:
Price — Just like Costco, if you shop big you can save big (kinda) PLUS it’s a tax-free benefit to employees
Better coverage — Exactly what you want in a health plan, for them actually to pay for something, which is slightly better in group plans than individual plans
More options — The carriers like insuring small groups so there are simply more options and better plans available, AND more doctors accept group plans than individual or “Exchange (Covered California)” plans
Will we see a big surge in small groups this coming year? Yes, we think so. If you are weighing these options here at renewal time, my team of health insurance and employee benefits experts are standing by to help you rule your benefits and your world no matter what your group size may be.