Articles & Alerts

Health insurance cost increases jump back to pre-pandemic pace

October 28, 2021

Anthony Millaci spoke with Newsday about rising health insurance costs, and how some businesses are joining Professional Employer Organizations to keep costs down: 

[Some] are joining Professional Employer Organizations, which pool employees from many businesses together giving them greater negotiating power, says Anthony Millaci, CEO of Manhattan-based CostMarc Consulting Group, which helps clients contain costs and enhance profits.

Companies can see between 15% and 20% in health insurance savings by moving from the small group market to a PEO, he says. They have to balance any savings against the fees they’d pay a PEO, which might offer other services like payroll and HR functions. Millaci said his firm has negotiated PEO fees for some clients from $150 down to $80 to $95 a month per employee.

Read the complete article from Newsday.