Experts estimate that 50 to 70 percent of the small businesses in California that offer employee medical insurance will renew their plans in December 2016. Many California small business medical insurance companies have begun to release their renewal rates for December 2016 and for many employers the renewal rates look very low.
Most Competitive Medical Insurance Companies
Blue Shield of California, United Health Care (UHC) and Anthem Blue Cross seem to be the most competitive. Each small employer’s rates are unique to the rating variables and the benefits that each employer offers. The Blue Shield increases are in the low single digits (2 to 5%) and many of the very small Anthem Blue Cross small group clients have received rate reductions.
Conversely, we have seen rate increases of 20% and more for our small group clients with coverage through Health Net. Aetna plans continue to not be competitive based on rates and benefits, particularly their PPO (POS) plans. We’ve learned that each group is unique and it pays to have a knowledgable agent/broker help you through the process. We, BenefitsCafe, can become your agent and assist you with comparing your options and helping you save money. Just give us a call at 800-746-0045.