Can Your Business Save Money on Health Insurance?

Healthcare costs keep climbing, leaving many business owners asking the same question: Are there better ways to provide health benefits for employees?In this episode of the iWealth Podcast, Brad sits down with healthcare benefits specialist Steve Schafer to explore alternatives to traditional employer health insurance and how businesses can take a more strategic look at one of their largest employee expenses.Steve discusses strategies including Individual Coverage Health Reimbursement Arrangements (ICHRAs), self-funded plans, captives, pharmacy benefit managers, and other approaches that may give employers greater flexibility and transparency.They also discuss the challenge every employer faces: controlling rising healthcare expenses while continuing to offer benefits that help attract and retain great employees.Steve explains how benchmarking can help business owners compare their benefits with similar employers based on factors such as industry, company size, and location—and identify areas worth taking a closer look at.The takeaway? Don’t assume your current health insurance structure is your only option. Understand what you're paying for, explore the alternatives, and find a strategy that fits your business and your employees.Hashtags#iWealth #iWealthPodcast #BusinessOwners #HealthInsurance #EmployeeBenefits #HealthcareCosts #SmallBusiness #BusinessPlanning #EmployeeRetention #Entrepreneurship