Managing Health Care Premiums
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5 Ways to Manage Your Health Care Premium Costs

1. Take advantage of the Small Business Health Care Credit
Designed to help you provide health insurance coverage to your employees, the credit can be up to 35% of your share of your employees' health insurance premiums. Determine your tax credit eligibility using the Taxpayer Advocate Service at the IRS.1

2. Work with an independent insurance broker
Meet with a professional agent or broker to discuss what you can afford to pay as well as the options you want to offer in a policy. They will discuss which types of policies will fit your business’ needs the best, then search to find you the best policies and price.

3. Implement a health savings accounts (HSA)
Employers can pair a HSA with a health insurance plan that offers a high deductible and lower premium. It gives employees control over their pre-taxed savings to use on needed medical expenses, which helps keeps costs down and allows unused money to roll over at the end of the year.

4. Look at supplemental benefits
Supplemental programs help to safeguard against potential coverage gaps in medical benefits. They can also provide valued protection at a fraction of the cost of most major medical plans.

5. Include your employees
You may not be able to ask your employees specific health questions, but you can find out what they want from their insurance plan. Set up an online survey to ask them in-depth questions about the types of coverage they want and varying cost details. With those results, you can discover the coverage your employees prefer.

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