Humana Inc. announced that it is introducing a series of new health insurance packages designed to hold down health care cost increases for small businesses. The program is called "No Worry," and Humana says that, "these packages offer predictable health care expenses over a three-year period and plans that gradually transition passive health care users into informed and active health care consumers."
Humana is offering No Worry in southeastern Wisconsin exclusively through the Business Health Care Group, an organization of large and small employers working to reduce health care costs in southeastern Wisconsin
No Worry is available for businesses with 51-99 employees. Employers may select one of 35 three-year No Worry packages. Each package has a combination of predetermined health insurance plans for years one, two and three that provide actionable information and tools designed to help employee be better consumers of health care.
With No Worry, Humana is guaranteeing that the annual premium rate increase for medical insurance will not exceed 6 percent for the two subsequent years. Employers can qualify for an even lower 4.5 percent medical premium rate cap in the second and third years by adding dental coverage and meeting other requirements like having 90-percent of their employees complete a Humana Health Assessment.
No Worry was developed in response to feedback from small businesses and independent insurance agents and brokers, according to Humana.
"We asked small business owners what their key worries were with respect to health benefits for their employees, and the same concepts resurfaced again and again," said Larry Rambo, chief executive officer of Humana’s Great Lakes Region. "They want predictability, a long-term solution to rising costs and a hassle-free process. We listened. At its heart, that’s what Humana’s No Worry packages offer."
Source: Small Business Times, Biz Times Daily, 7/29