The Facts about Employer-Sponsored Health Insurance

 

Studies show that health care costs are continuing to rise throughout the United States and many employers are adjusting group health insurance benefits in response to higher costs. (Increasing deductibles, co-insurance, and co-payments for services)

  • 60 % of US Businesses offered employer-sponsored health insurance to workers in 2005, compared with 69% in 2000 and 66% in 2003

  • The cost and inflation of health insurance continue to outpace average economic inflation and wage growth

  • The decline in employer-sponsored health insurance comes mostly from small businesses, with 68% of employers with 3-199 employees offering coverage in 2000, compared to 59% in 2005.

  • Premiums in 2005 increased an average of 9.2%, the first single digit increase in several years.

Source: Kaiser Family Foundation and Health Research and Educational Trust Survey, 2005.

Supplemental Insurance

(Voluntary Worksite Benefits)

 

With higher deductibles and co-insurance levels comes more employee financial responsibility for health care costs. Medical costs and other bills can add up quickly, especially if you have to stop working and lose your income. How will you pay the deductibles or co-payments, and other increasing medical costs not covered by your employer-sponsored insurance plan?

 

Supplemental insurance is the solution to these potential problems, providing additional coverage on a voluntary basis.

  • Supplemental Insurance is offered thorough the employer as an option for employees to choose for themselves.

    • Employers are not obligated to pay for any of these benefits, but can choose to pay for a portion, or all of these benefits--at their discretion.

  • Convenient payroll deduction for premium payments

  • Many plans can be paid for with pre-tax dollars

  • Flexible coverage options that can be tailored to meet individual needs.

  • Individual consultation to assist each employee in

Supplemental Insurance Products-Voluntary Worksite Benefits

Disability Insurance -

Replaces part of your normal income in the event you become disabled from a covered accident or illness.

In the next 10 minutes, 390 people will suffer a disability-National Safety Council
Accident Insurance -

Helps offset the unexpected medical expenses (i.e. emergency room co-pays, deductibles and co-insurance) that can result from a covered accidental injury.

In 2001, approximately 2.6 million people were hospitalized for injuries and 39.4 million were treated in hospital emergency departments.--National Safety Council
Cancer Insurance -

Assists in the medical expenses associated with both direct and indirect treatment of cancer, as well as benefits for cancer screening tests.

In the U.S., men have a one in two lifetime risk of developing cancer, and for women the risk is one in three--Cancer Facts & Figures, American Cancer Society
Critical Illness Insurance -

Provides extra money in order to assist with costs directly and indirectly associated with covered critical illnesses.

Every 29 seconds in the U.S., someone suffers a coronary event. --American Heart Association
Life Insurance -

Allows you to purchase additional life insurance at affordable rates and provides financial security for your family members.

A helpful rule of thumb to determine the amount of life insurance you may need is to multiply your current salary by five to eight years.
Hospital Confinement Insurance -

Provides extra money for a covered hospital confinement and a covered outpatient surgery to help cover medical insurance deductibles and co-payments.

In 2001, the average length of stay in a hospital was five days, and in 2000, there were 31.5 million outpatient surgical procedures performed in the United States--Advance Data-National Center for Health Statistics-2001, National Hospital Discharge Survey