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Revenge of the Health Insurance companies -- UCAN hit with a 60% health care cost increase
The health insurers are striking back. This week, we got news from our payroll/human resources company, Paychex, that it has negotiated new health insurance rates for 2010. The bad news .... rates are skyrocketing. The Aetna MCP Core 10 San Diego for which we were paying $374.30 per month per employee was now going to be $595.09 per month. That amounts to a 60% increase. And this has nothing to do with UCAN's policies -- Paychex reports that across the board, it has seen all of its clients' health insurance costs skyrocket.
Paychex wrote me that: " due to the changing healthcare environment, increased utilization of health benefits, and the state of the economy, health insurance renewals have taken a hefty increase for 2010"
Paychex's explanation is bureaucratic speak for "the health insurers' are wreaking revenge on its customers". Its a big company that negotiates on behalf of tens of thousands of businesses. Remarkable stuff. We'll let you know how our search for alternatives plays out.