With healthcare costs soaring, many companies can no longer afford to maintain the types of insurance plans that were once taken for granted at giant corporations. Smaller companies have been experiencing the problem for several years and this has lead to employees being faced with a number of options with respect to maintaining healthcare coverage. One option is to require the employee to pay some percentage of the premium. Another is to give employees a choice as the amount of the deductible they will accept.
A larger deductible means that employees will be required to pay more medical bills out of their own pockets. This option allows an employee to retain more take home pay since the policy premium is less. Some companies do not provide an option. They simply have all employees pay the higher deductibles. Based on the cost of medical care and the state of the economy, most experts agree that the high deductible option will be offered at every company within the next three to five years.