![]() Understanding the current health care challenges these clients face, we’ve developed a creative solution to address the problem. Woodruff Sawyer’s Insurance Solution for the Wine IndustryĪt Woodruff Sawyer, we serve more wine-related clients than any other brokerage firm in the industry. The new ACA market segmentation means that larger wine-related companies will now be negotiating under the same terms as do smaller ones, and it’s making them reconsider how they structure their benefits. However, it can be difficult for these companies to navigate the ACA compliance pitfalls and mitigate rising costs on their own. Further, wine industry plan rates are generally rising similarly or slower than rates in other industries. Some of this is because many wine companies are family-owned, small and likely to want to take good care of employees, whom they know personally. ![]() In reality, perceptions of costs are already off, and wine-related companies can have a hard time wrapping their arms around the details.Īccording to our own surveys, wine companies provide benefits that are as good as, or better than those offered by other industries in the area. This is obviously unwelcome news to anyone trying to balance costs with the need to provide quality and affordable benefits to its employees. Others expected 67 percent of companies with between 50 and 100 employees to see heath care cost increases of at least 10 percent and as much as 50 percent.Īs we head into 2018, health insurance premiums are forecast to increase an average of 20 percent. According to some, the vast majority of wineries and wine-related companies expected their health care costs to increase as much as 10 percent over 2016. Those with less than 50 employees had to comply with the new ACA requirements first, and those with over 50 employees got an extension to be compliant by early 2017.įor everyone, costs went up and benefits shifted significantly. Specifically, in 2015, employers with one to 50 employees and employers with 50 to 100 employees were both lumped into the small business category (which had previously only included companies with 50 or fewer employees). Couple that with the plan design reductions and limitations on doctor choice, and wine industry employers and employees end up paying more for less. One of the most significant changes that came with the ACA was the elimination of large-group status or composite rating in favor of age-related coverage for individual employees and their dependents. The Wine Industry’s Insurance Coverage Problem Let’s take a look at some of the data and changes in recent years, and also explore a coverage solution that strives for collaboration, compliance, cost control and efficiency. Add to that the administrative complexities of the Affordable Care Act (ACA) and competition to keep great employees, and wine industry employers feel the pinch as much as anyone else. Healthcare costs are projected to continue growing at unsustainable rates in the coming years.
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