Group Insurance | Reliable Health Insurance Solutions

At Reliable we realize that spiraling health insurance premiums have made it very difficult to continue providing benefits to your employees. These hard times have forced us to re-evaluate how insurance should be purchased.

It is our experience that only a very small percentage of employees exceed $500 of their deductible each year. The vast majority only visit their primary physician once or twice a year for seasonal ailments. In most instances the employees just have to pay their doctor office and prescription drug co-payments for the services they receive, and the deductible never comes in to play. The introduction of co-pays a decade ago has made deductibles much less relevant today.

Many of our clients have switched to a higher deductible plan and self-insure the difference between their old deductible and the higher one. In many instances, the savings of switching to a higher deductible are so large it makes the self-insuring concept very attractive and logical.

For a better understanding of the benefits of self- insuring a portion of your deductible, read the true life example below:

One of our clients is a 34 man physician group, who prior to last year carried a $500 deductible. After receiving a substantial rate increase, we suggested that they increase their deductible to $2500 and self-insure the difference with the $46,000 in premium savings. At our instruction, they surveyed their employees and found that only 5 had exceeded their $500 deductible. Our client found that number surprising since that year they had the worst claims experience ever. After careful consideration they agreed to the self-funding concept, understanding that more than 23 employees would have to exceed the $2500 deductible for this to be a loosing proposition. The final results... only 2 employees exceeded their $2500 deductible, and our client saved in excess of $35,000!

You can count on Reliable to provide you with Solutions that best fit your individual needs!