With the burden of a staggered economy weighing on employers, many are looking to cut costs while retaining benefits for their employees. However, the rates for employee health coverage have been going up for the past few years, making health care among the first benefits to be cut entirely. Trowbridge Insurance of Pacifica California is looking to change that by teaming up with a third party administrator in an effort to save businesses money on coverage. The third party has developed a strategy to save businesses and unions up to…
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No one signed up for Group Insurance Commission (GIC)
The Group Insurance Commission’s open enrollment for 2011 ended this week and no one signed up for it. This was designed to help municipalities save millions a year. Joel Barrera, deputy director of the Metropolitan Area Planning Council, a planning organization for 101 Boston area communities said, “The experiences of the 31 municipalities and regional government units that have joined the commission since 2007 clearly demonstrate the potential for substantial savings.” Barrera also stated, “We know the GIC saves millions of dollars, but we also know municipalities are not able…
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