Employee Benefits

Costs vs. Benefits of Healthcare

As an employer, you must carefully weigh the costs vs. benefits of your choices in healthcare coverage for employees. There are many options for handling premiums on For example, you could choose to minimize the number of plans offered, but pay employee premiums at 100 percent. Others pay for the employee's premium, but share costs for family coverage.

Another financial option is to divide the premium costs between employer and employee (for example, you pay 80 percent and the employee pays 20 percent) in order to offer a more expensive plan that has a lower (or no) deductible and offers more extensive coverage and lower out-of-pocket costs. Your rates for premiums will depend on the size of your company, your industry, the mix of employees you have and their calculated risk, and the state your business operates in.

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