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Health insurance, how to get the best of it

How to get the best of it and keep your cost down as an employer without effecting quality and benefits of your employees 


By : Ibrahim Al Rayes ACII, Chartered Insurer




Increasing cost of health care services is becoming alarming into a certain extend. Your employees constantly complaining on how bad the services that they receive from their current insurer or TPA, you as an employer can’t keep up with the increasing cost of insurance premiums that you have to face every renewal.


So what do you have to do and what are your options?


1.  First of all, we have to understand that paying premiums to insurance companies should reflect on a proper scheme that would give your employees’ access to appropriate health care services. You can do that without the fear of having an abused medical policy and while keeping the level of providers at its best.


Keep deductibles, on the higher side and add out-patient co pay on drugs, this will:



A.    Decrease utilization as members will understand that going to a specialist whenever they have a minor case of flu will cost them.


B.    Doctors will be thinking twice and asking members to whether they will be OK to pay the co-insurance on a medicine that is being marketed because of its brand name or not.



2.  Never compromise a good network, if necessary and you as an employer have to cut down network because of high utilization think of adding a co-pay on all services (I&O) of those hospitals that is needed to keep employees happy but it’s costing the company thousands of dollars in increasing premiums.


This means, you have a wider network within lower cost, when necessary, high quality procedures can be carried out for those who needs it most.