Health Care reform was supposed to bring to us some benefits. Though there are a few that we tend to forget like the guaranteed acceptance for coverage without any conditions, we are hearing more about the negatives of reform.
One of the promises that do not seem to be being delivered is the slowing of rate increases. The Chamber has seen how small to mid-sized businesses have handled these rate increases. Either the business has to take the rate increase and pass it along to their employees, increase deductibles and co-pays to keep the rate close to the same or the stop offering health insurance all together.
The last option of stopping to offer benefits can cause moral problems with the employees. It can also cause turn over. Statics show that when an employee leaves for another job the reasons are either getting an increase of pay or better benefits or both. Turnover in the work force is costly to the business.
The Connecticut Chamber of Commerce Leadership Conference has been looking on ways to provide benefits for Chamber member businesses. Recently they have approved a three prong approach to providing a solution to the problem of offering cost effective benefits to the Chamber member businesses and their employees. This three prong approach allows small and mid-sized businesses to offer benefits that have been proven to be cost effective and gives the businesses and their employee’s tax savings.
Rocky Hill Chamber is able to offer these solutions to its member businesses. With the recent news of double digit rate increase proposals by all the insurance companies in CT, it is a great time for Chamber businesses to look into the solutions being offered by the Rocky Hill Chamber.
On August 24th these is a meeting in New Britain that will explain these solutions. The New Britain Chamber of Commerce has organized the meeting. The meeting starts at 8 and will end at 9.