Louisville-based Humana has introduced a new health insurance package for small businesses that provides small-business owners predictable health care expenses over a three-year period and places a cap on insurance premiums.
The “No Worry” plan is being offered to employers with 51 to 99 employees in 17 states, including Kentucky.
With No Worry, Humana guarantees the annual premium rate increase for medical insurance will not exceed 6 percent for the two subsequent years. Employers can qualify for an even lower 4.5 percent medical premium rate cap in the second and third years by adding dental coverage and meeting other requirements – such as having 90 percent of their employees complete a Humana Health Assessment.
In addition, employers can add dental and/or life insurance to their No Worry package, and Humana will guarantee that the annual rate increase for dental will not exceed 2.9 percent in years two and three, and that there will be no annual rate increase for basic life insurance in the second and third years.
“We asked small-business owners what their key worries were with respect to health benefits for their employees, and the same concepts resurfaced again and again,” said Jerry Ganoni, president of Humana Small Business, HumanaDental and HumanaOne. “They want predictability, a long-term solution to rising costs and a hassle-free process.”