How can an employee determine how much a health benefits package will cost?
To determine the true cost of health insurance, the employee must look at the cost of the monthly premium as well as other costs, such as co-payment requirements for doctor visits and other services, out-of-network costs and co-payments or deductibles that would be part of the prescription drug coverage. There are also less visible costs of which one should be aware, such as coinsurance, which is the part of the cost that is owed by the insurer after the deductible is met. Also, is there an annual limit to the amount of money spent or to the number of hospital days permitted? An employee needs to look at all these things to determine true cost. Why is it beneficial that employers provide quality health benefits for their employees? Simply put, this is something that is considered extremely important to employees. A 2007 survey sponsored by the Center for State and Local Government Excellence showed that 84 percent of workers place an extremely high value on health care coverage. Medica
