Products and Services3 Approaches to manage business health costs
Understand how the pieces fit together.
A higher premium will generally mean a lower deductible, or the amount an employee must pay toward medical costs before the insurance plan kicks in. Conversely, smaller premiums will usually lead to a higher deductible, which means employees will pay more if they need medical care. The two variables work a bit like car insurance; if you raise your accident deductible to $2,000, your monthly payments will go down—but if you're in a crash, you'll owe $2,000 before your insurance pays for any damage.