Andy Neary argues that accepting a 5% health insurance increase is a trap. Employers might actually deserve a 15-20% decrease, but they never push back. Challenge your broker at renewal instead of taking the modest bump as a win.
Questions this video answers
5%
A 15–20% decrease.
Chapters
Welcome back to striking out the status quo. Your health plan is just one mindset shift away from greatness. Alright, here we are, part two of the Mindset Shift series. Today we're focused on that dreaded renewal. You know the feeling. It arrives and you've been dreading the news for weeks. Your health insurance renewal results are in. How bad is it going to be? And then your broker tells you that your insurance company is giving you a smoking deal. Costs are only going up 5% this year. 5%. Thank goodness. So you wrap up the renewal and you put it away for another year. But hold on, is that really a deal after all? Here's the Mindset shift I want you to think about. When you get a 5% increase from your health insurance company, what that really means is you actually deserve a 15 to 20% decrease. Number two, it's easy to look at a 5% increase as a great deal when you compare it to last year's numbers. However, what if you're already paying way too much to begin with? Is 5% a deal at all? So here's my challenge to you. When you hit your next health insurance renewal and your insurance company is offering you that smoking deal, I want you to challenge your insurance company and your broker to validate why you might be paying too much already in the first place. Until next time, bear down, focus on the target and strike out the status quo.