The changing pages of the calendar should remind people that come January 2009 it is time to revisit their health care coverage and make changes.
Every year like clockwork, death and taxes, the New Year brings with it new challenges for everyone. Have one less challenge to face for 2009 by updating what type of health care coverage is in place for the family.
During the year things change rapidly when it comes to the price of drugs, their availability, and their status (meaning generic vs. brand name) and whether or not they are added into an existing regime for a particular patient. Other things change over time as well, including the various health care insurance plans offered to consumers.
While the plans themselves might not change in what they provide, they may increase in price. Often price increases in plans means other newer ones are offered in order to let people choose a less expensive health care insurance option.
Typically this type of situation will happen at work where employees are on group health care coverage. Come the time to change, they are advised their particular plan is going up in price, due to rising health care costs, however they have other more affordable options. What people do not tend to understand is that employers are in a bind when it comes to providing health care for their employees.
Every year the price of maintaining health care goes up. In fact, health care expenses eat up almost 25% of a company’s operating costs. Asking for a raise will not make any difference in the long run, as the increased wages will merely go to pay the increased costs of health care.
This goes a long way towards explaining why requests for pay raises are often not received well or do not wind up being what the workers want. It also explains why some companies face potential bankruptcy over time trying to keep up with health care demands.
Prior to January it is time to revamp health care coverage, do some shopping around for better prices, reassess if what is currently in place is working and making plans for the new year.
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