Health insurance

Benefit brokers who are proactive and address near-certain cost hikes will become valuable client counselors.

Though policy makers may need to step in where market forces fail, businesses should play a more significant role in cutting costs.

For companies, the arrangement can mean a healthier workforce, better care for their employees and less money spent paying for employees’ medical bills.

The alternative strategy is ideal for companies that like the idea of self-funding but want to keep the safety and stability of consistent premium payments.

In a national plan, employers are pooled together to purchase stop-loss insurance. Companies pay smaller day-to-day claims as they come, but enjoy greater protection against catastrophic claims as well as the purchasing power of a large group.