CBIA BizCast host Ali Warshavsky speaks with ConnectiCare president Eric Galvin about the costs small businesses face when offering employees health insurance.
Galvin, who has led the company since 2017, says numerous factors, including the cost of care and government mandates impact insurance costs.
He said consumers can help drive down costs by, for instance, seeking out where they can get the cheapest prescriptions.
Galvin said when it comes to a small business picking a plan for their employees, it’s about striking the right balance for their workforce.
“If you have a younger workforce that might be healthier, you might want to think about plans that are leaner in benefits so you get a lower monthly premium,” he said.
“If you have a workforce that may have folks with chronic conditions, who might be higher utilizers of care you may want to go with a richer plan.”
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