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The reason you have to increase your deductibles every year

You just finished up your renewal / open enrollment and you increased your deductibles or employee contributions...again.

If you are like many employers out there, it could be because you feel like there are no other options outside of Blue Cross Blue Shield and that's the only way to reduce your cost.

If you want to get out of the endless cycle of increasing deductibles and employee contributions, watch the video below to learn about some of the other options out there.

Today's topic: Are there other options outside of Blue Cross Blue Shield in Illinois? Blue Cross Blue Shield ensures more than any other carrier in the state. I've never met somebody here that hasn't heard of them. The brand recognition is impressive. So I get why employers may think that that's the only other option out there, but if you are thinking yourself are there other options, I assure you there are most Brokers refer to the other options as Buca, Blue Cross Blue Shield, UnitedHealthcare, Cigna, and Aetna the options don't stop there though. Those are just the ones that are inside of the box. If all you've ever known is Blue Cross Blue Shield, you've increased your deductibles or your employee contributions over the years to try to control costs. If you've heard of the sea you've added shopping or switching carriers to that to try to control cost when you go outside of the box the options extend a lot further than three letters of the alphabet and it's where you can finally get out of the endless loop of switching carriers increasing deductibles and increasing employee contributions. So here's my advice if the only option you've ever heard of Blue Shield you need to strongly consider hiring a new broker. If you've heard of the other three letters in Buca and nothing else start asking your broker. What options go beyond that? It's quite possible. None of them are right for you right now, but you got to find out for yourself. And if your broker doesn't know any other options outside of Buca you need to strongly consider hiring and broker.

About the Author

Mike Kroupa, Self-Funding Insurance Expert

I grew up in a house that was constantly under construction and the experience helped me uncover one of my passions, remodeling. After running a successful remodeling business with my brother during college, I decided I wanted to keep this as a hobby. Instead, I took my advisor’s recommendation and started down the actuarial path, which ultimately led me to insurance.
Since then, I have focused my career teaching employers how to better manage their health insurance plans. I found myself frustrated year after year of doing the same thing because it didn’t feel like I was making an impact. Healthcare costs were continuing to increase, and it felt like the only options employers were left with was increasing deductibles, increasing contributions, and switching carriers.

There was a turning point for me in 2020 as I found Health Rosetta, an ecosystem for scaling adoption of practical fixes to our health care system. As my clients started adopting these fixes, I found myself getting passionate about what I was doing for the first time. Then I realized my hobby of remodeling was driving the passion because I was remodeling health plans. Even better, I was having an impact because patients (employees, spouses and children) were getting the best care they ever have and saving a lot of money in the process.

Get in contact with Mike: 

Phone: 630.738.1835     Email: mkroupa@gocgo.com     LinkedIn: Mike Kroupa

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