How to face rising renewal rates head on

In the midst of open enrollment, health benefits are top of mind for employers and individuals alike, and so are the challenges and pain points we’re all too familiar with. Not least of which: financial burdens.

As we emerge from the pandemic while facing an economic downturn, renewal rates are increasing for many. As a result of employers tightening their belt to protect their bottom line, employees may be feeling the pinch, too, as rising costs are passed through to them.

Perhaps one of the riskiest questions people are asking themselves these days is, are the costs of insurance outpacing the costs of healthcare itself? Individuals – especially those who may see themselves as relatively healthy – may decline coverage altogether, opting instead to roll the dice on footing the bill themselves for the healthcare costs they may or may not incur down the road.


It’s during open enrollment season that we feel especially passionate about this topic. At Gravie, our mission is to improve the way people purchase and access healthcare. And this means helping to ease the burdens of employers and individuals when they’re feeling this pinch the most.


Here are the three things we’ve been saying to those grappling with the costs of health benefits this year:

Renewal rate increases are a reality, but they don’t have to be crippling

There are natural mechanics of health insurance that are affected by the market as a whole – expensive claims employers may have faced and beyond. But insurance companies have gotten away with far too much when it comes to renewal rate increases. At Gravie we’re proud of our rates that stay well below industry averages to ease the burden on employers and individuals.

When costs increase, value should, too

Yes, health benefits may cost more this year, but if you’ve noticed your prices increasing year after year with no new value to speak of, that’s a red flag in our book. At Gravie, we know you see health benefits as an investment, and solutions need to provide increased return as it relates to employees’ health, as well as their experience and overall satisfaction with their plan and services. At renewal time, customers understand the value that they get when partnering with Gravie, from unique digital solutions and more no-cost services to customer service that goes above and beyond.

The power to manage your costs with confidence

At Gravie, we give small and medium sized businesses an onramp to self-funding with predictable monthly costs so they’re able to budget and control their spending throughout the year. And for individuals, we’ve designed our plans so that every member benefits on day one of their plan, without steep deductibles or out-of-pocket costs that hit first. Rather than take the risk of opting to decline coverage if you feel relatively healthy, individuals can choose a higher out-of-pocket-maximum plan that offers lower monthly premiums — and, most importantly, still offers a radical number of covered services that members can tap into to maintain their health and well-being all year round.

As you’re feeling the pinch of rising healthcare costs, ask yourself: Are you finding that your costs crippling this year? Is value increasing? And are you pulling all the levers you can? If not, it’s worth some conversations – and we’d love to talk.