5 Steps to Take Control of Your Health Care Spend
As a small business owner, it's important to have control over your health care spend. After all, healthcare is one of the biggest expenses for any business, and it's important to make sure you are getting the most value for your money. If you feel like you are losing control of your health care spend, don't worry - there are steps you can take to regain control and make sure you are getting the most out of your health care dollars.
Review your current health plan: The first step to gaining control of your health care spend is to review your current health plan. Look at the types of coverage you have, the deductibles and copays, and the overall cost of the plan. This will give you a better understanding of your current health care spend and help you identify areas where you can potentially save money.
Shop around: Once you have a good understanding of your current health care spend, it's time to start shopping around for a new plan. Look for a plan that offers the coverage you need at a price you can afford. Don't be afraid to negotiate with insurance companies to get a better deal.
Consider self-funding: Another option to consider is self-funding your health insurance. With self-funding, you set aside a specific amount of money to cover employee healthcare claims instead of purchasing a traditional insurance plan. This can be a cost-effective solution for small businesses, as it allows you to have more control over your healthcare costs and potentially save money on premiums.
Encourage employee wellness: Encouraging employee wellness is another effective way to gain control of your health care spend. Offer wellness programs and incentives to encourage your employees to take care of their health. This can help reduce the number of claims you have to pay and ultimately lower your health care spend.
Work with a health insurance broker: Finally, consider working with a health insurance broker like ThinkTank. A broker can help you navigate the complex world of health insurance and find a plan that meets your specific needs and budget. They can also help you negotiate with insurance companies to get the best deal possible.
By following these five steps, you can gain control of your health care spend and make sure you are getting the most value for your money. Don't let traditional health insurance companies steal your premiums - take control of your health care spend and join ThinkTank to fight back against the corrupt system.
Marty has spent most of the last 20 years developing software in the marketing space and creating pathways for software systems to talk to each other with high efficiency. He heads our digital marketing efforts as well as oversees any technology implementations for our clients. As a partner, Marty is also responsible for internal systems in which help our team communicates with each other and our clients.