By Matt Peterson, VP of Business Development, IdilusHR
You may have recently heard that Blue Cross Blue Shield of Illinois will no longer be offering group plans through the Healthcare.gov website. According to the Chicago Sun Times in a recent article, “When Obamacare went into effect, the federal government predicted that 4 million people would be covered through its Small Business Health Options Program, or SHOP. It hit less than 6 percent of that goal.” This means 27,000 businesses nationwide will be left without insurance.
Those 27,000 businesses employee over 230,000 people. That’s almost a quarter of a million people without access to healthcare through their place of work.
Big healthcare is leaving the government marketplace. With diminishing federal subsidies, the risk pool is too high and big companies like Blue Cross Blue Shield stand to lose millions in the process. This happens when the government doesn’t help cover the difference between what the health care premium should be versus what they are legally allowed to sell to the public. This requires carriers like Blue Cross to have to cover the difference out of pocket, which is simply too expensive. They end up leaving the marketplace all together.
My company is losing coverage. What do I do? If you are in management or ownership of one of the 27,000 affected businesses, enlisting the services of a Professional Employer Organization (PEO) like Idilus HR can help ensure that you and your employees don’t lose healthcare coverage. At Idilus, we have a long-standing relationship with health insurance providers. We can help you find the proper benefits packages for your employees and help keep them from gaps in their coverage.
Don’t take the chance that this could happen to your business. Carriers like Blue Cross are still offering some small business plans on the federal marketplace to states outside of Illinois. While these plans may seem cheaper in the short term, with the changing regulations they may not be affordable–-or around–for long. By choosing to work with a PEO like Idilus, you are guaranteed continuous coverage for you and your staff. You may even be able to obtain better benefits for your employees through working with Idilus. Contact us to find out what your options are. You may be able to offer Fortune 500 style benefits to your personnel.
Working with a PEO can save your business money and help you obtain better talent. If you don’t have a designated human resources team (or even if you do), you may be surprised how much a PEO can benefit you. As we mentioned before, the stability and long term relationships formed by a company like Idilus can help you and your company receive the best benefits options. You don’t have to worry about changing healthcare regulations and the whims of Congress–we’ll do that for you. When you hire new talent, you can guarantee them top of the market benefits with confidence.
Whatever the size or structure of your business, working with a PEO is the right decision for you. You don’t want to be the one to tell your employees that they don’t have health benefits anymore. Don’t take a chance in this ever-changing healthcare marketplace. Call or click contact us today to find out how Idilus HR can work hard to protect you and your employees today.