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As a business owner, you might find yourself caught between two core principles: the responsibility to ensure the wellbeing of your employees and the need to protect your bottom line. The good news is, the two aren’t mutually exclusive: It’s absolutely possible to provide a top-notch health care plan that also maximizes your savings. First, start by answering one question: Do you know much your organization spent on health care costs last year?
Even if you don’t know the exact number, you might already be aware that you’re paying too much. According to a survey conducted by Enterprise Bank and Trust, 79% of business owners are concerned about health care costs , and for good reason. Being unaware of how much your health benefits plan is costing you is problematic. Health care is riddled with wasteful spending — money that could be used to help your business recover from Covid-19.
The next question to ask yourself is: Do you know the details of what you were paying for? Unlike most years, this renewal season, in the middle of a public health crisis, it’s critical that you fully investigate your options before signing on the […]
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