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Checklist of health insurance saving strategies for small businesses

by Tony Novak, CPA, MBA, MT    revised July 3, 2014


This is a checklist of methods used to reduce health insurance expenses and is meant to be used in conjunction with the "Small business health plan review checklist" that offers a wider scope of compliance and management tips. Whether you need to reduce the cost of health insurance for yourself or a large group of employees, some of these strategies listed may inspire additional opportunities to explore. Not all methods are equally effective for all businesses and individuals. The "tried and tired" strategies are listed first while the new and evolving strategies are listed last. We invite you to schedule a discussion through our free OnlineNavigator service to explore the specific options and strategies that may offer the best results for your situation.

While all of these strategies will not work in every situation we believe that, in general, each strategy might be used to cut costs by 2% to about 4%. The total savings available by combining multiple strategies can be substantial. While all of these strategies will not work in every situation we believe that, in general, each strategy might be used to cut costs by 2% to about 4%. The total savings available by combining multiple strategies can be substantial.

Note that the listing is  above presented roughly in the order that these strategies were adapted by most health plans. The items at the bottom of the list represent the newest strategies that have become popular since the passage of federal health reform law in 2010. We are currently in a transition period that will last until 2018. where individuals and businesses are gradually becoming aware of the newly developed strategies to control health costs.


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This web site is independently owned and managed by Tony Novak operating under the trademarks "Freedom Benefits", "OnlineAdviser" and "OnlineNavigator". Opinions expressed are the sole responsibility of the author and do not represent the opinion of any other person, company or entity mentioned. Tony Novak is not an agent, broker, producer or navigator for any federal or state health insurance exchange but may provide uncompensated advice, reviews and referrals to these official resources. Novak is compensated as an accountant, adviser, affiliate consultant, marketer, reviewer, endorser, producer, lead generator or referrer to some of the other commercial companies listed on this site. Information is from sources believed to be reliable but cannot be guaranteed.