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Advice on picking health insurance through employers

INDIANAPOLIS (WISH) — If you have health insurance through your employer, listen up: Soon, you may have to pay a higher premium.

Global Gifts, a store with “fair trade” goods, has a healthy relationship with artists and vendors from around the world. They also help keep their employees healthy via insurance benefits.

Sam Carpenter, executive director of Global Gifts, said, “It’s superimportant. Health insurance is a big challenge. It’s a big expense for the organization, but it’s also a big expense for an individual.”

They have fewer than 50 employees at locations across Indiana. Part of Carpenter’s job is dealing with company insurance.

“We saw a 20 percent increase in our premiums, this go around,” Carpenter said. “That’s obviously bigger than any of our other expenses.”

So far, they have not had to pass that cost onto employees.

“If it continues to be increased expenses, we’ll have to look at offering different plans that might not cover as much. That sort of thing.”

Susan Rider with Gregory & Appel Insurance said insurance offerings for small businesses, with two to 50 employees, are dramatically different from years past.

“You’re kind of getting that double-edged sword,” Rider said. “Your benefits, you’re having higher out-of-pocket maximums. Then, you’re also having increased amounts out of your paycheck.”

All of this varies based on your employer, but Rider offered some reasons why.

“The health insurance market has changed. We have less carriers, less options. We just have to do the best that we can,” Rider said.

Rider said people should make sure you know which doctors and hospitals they absolutely want to use because the network might be different. Look for an urgent care or immediate care center. They cost less than emergency room visits.

“I would suggest everyone shops their medications,” Rider said.

Carpenter said he hopes the cost of health care and insurance gets addressed soon.

“In a meaningful way, because it’s just not right, I think, for it to be increasing at the rate it’s increasing,” Carpenter said.

One thing married people might want to think about is taking “single” coverage with their employers and having their spouses do the same with their employers. That might help save a few dollars.

Rider said this year, people are going to have to sit down and do the math to see what’s best.