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Here in my state of Indiana my HSA renewals on groups under 50 lives are at 15% on average.
In other states are the HSA plans getting hit like this?
I sold these plans on the plat form that a good year could bring a single digit increase. I think that sales pitch was a big mistake. I have been able to negoiate some of the rate increases down to 9.9%.
So if I take the cost of the premium + employer contribution to hsa account the employer after 3 years is not saving any money. I am unable to go out to market and reduce the premium so that leaves me with 2 choices.
1. keep the plan the same and suggest that the owner passes the rate increase to the employee.
2. change the plan design form 100% to 80%.
What are you brokers doing in other states with these HSA renewals?
In other states are the HSA plans getting hit like this?
I sold these plans on the plat form that a good year could bring a single digit increase. I think that sales pitch was a big mistake. I have been able to negoiate some of the rate increases down to 9.9%.
So if I take the cost of the premium + employer contribution to hsa account the employer after 3 years is not saving any money. I am unable to go out to market and reduce the premium so that leaves me with 2 choices.
1. keep the plan the same and suggest that the owner passes the rate increase to the employee.
2. change the plan design form 100% to 80%.
What are you brokers doing in other states with these HSA renewals?