Myth: Employers are Stuck in Their Group Plans for the Year


Renewing your group health insurance plan every year usually stirs up some nagging doubts: Should I lock myself into a 12-month plan commitment? Is choosing to renew the best choice for my company and employees? Is this a good deal for the company? And what about my employees, are they getting what they want and need?

There’s a simple secret that may provide some relief: Your group health insurance plan is almost always a month-to-month contract, and you can drop it at any time. There’s no requirement to wait for the end of the plan year. No open enrollment restrictions. No annual commitment. You are free to leave the plan whenever you want, for whatever reason.

This is a big deal because if you’ve renewed your group plan only to realize it wasn’t the best fit, or if you found a better option, you can still make a change. You aren’t stuck. In fact, many of Gravie’s employer clients come to us midyear, after they’ve renewed their group plan. Sometimes they aren’t happy with the costs, or they can’t dedicate the hours needed to managing the plan, sometimes employees aren’t happy with the limited plan options, or they hear about Gravie and it just makes more sense.

By dropping your group plan, your employees have a qualifying life event and they’re free to shop for a plan in the individual market, through a service like Gravie. (See how Gravie works: Gravie 101 eBook.)

With Gravie, employers have the option to offer additional compensation to their employees that can be used to purchase individual health insurance. By working with Gravie you could save money while, at the same time, providing your employees with more plan options than your current group plan could possibly offer. Your employees get a plan selected with their unique needs in mind, not one to three plans chosen for the needs of their entire company.

In other words, all the benefits that our clients and their employees get by dropping their group plan and offering Gravie are available all year round—whether it’s during your group plan’s renewal time, a month after you’ve renewed, or six months into the plan year.

So what are you waiting for? You can get out of the health insurance game so you can focus on your business. Your employees have an unbiased resource in the Gravie advisors to help them manage their plans throughout the year. You don’t have to worry about answering your employees’ sometimes-personal healthcare questions. Instead, employees come to Gravie with questions like, “Why was my claim denied?”, “How much will this prescription cost?”, and “Is this doctor in-network?” The benefits go beyond cost savings; it’s about doing something that really is good for your employees.