Rising healthcare costs are squeezing Idaho businesses. In Boise's small group market, premiums will jump 10% in 2025, following an 8% increase in 2024. Many employers feel stuck with families facing $18,000 in out-of-pocket costs annually and monthly premiums ranging from $1,250 to $1,350. Offering competitive benefits without breaking the bank has never been tougher.
At Keenly, we believe it's time to rethink health insurance. Association Health Plans (AHPs) and Level-Funded Plans give businesses more control over costs while offering meaningful benefits. Let's break down how they work and why they're worth considering.
How Association Health Plans Help Businesses Save
Think of your association as a team—small businesses join forces to unlock better insurance deals. Here's why Association Health Plans are gaining popularity in Idaho:
- Lower Premiums: Associations are incentivized to keep costs low for their member's benefit and are more engaged with performance.
- Tailored Coverage: Plans are customized for specific industries or employee needs.
- Built-in Compliance Help: Many Association plans include HR and legal support, easing the administrative burden.
By pooling together, businesses gain access to the coverage and savings that large corporations enjoy, giving them a competitive edge without sacrificing quality.
Level-Funded Plans Offer More Control
Level-funded plans blend the predictability of traditional insurance with the savings potential of self-funding. Here's how they help:
- Fixed Monthly Payments: Easy to budget with predictable costs.
- Refund Potential: If your team stays healthy, you could get money back.
- Claims Data Insights: Understand how employees use benefits and improve next year's offerings.
For businesses worried about rising premiums, level-funded plans provide stability and the chance to benefit from low claims. It's a win-win.
The Idaho Healthcare Squeeze: Why Change is Necessary Now
Healthcare in Idaho is becoming unsustainable for many small businesses. As family out-of-pocket costs climb to $18,000 annually, employees are forced to choose between healthcare and other essentials. High deductibles and monthly premiums of over $1,300 are simply too much for many working families to bear.
Employers feel stuck—balancing the need to offer competitive benefits with the reality of shrinking budgets. But there's hope. AHPs and level-funded plans offer a path forward, giving Idaho businesses the tools they need to provide meaningful benefits without going over budget.
Let's Build a Smarter Benefits Plan Together
At Keenly, we help Idaho businesses design benefits that make sense—keeping employees happy without breaking the budget. If rising healthcare costs keep you at night, let's explore how AHPs or level-funded plans can help.
Reach out today to start the conversation. Smarter benefits aren't just good for your employees—they're good for business, too.
