Dramatic Health Insurance Premium Increases Announced in California
A recent article on cnnmoney.com reports that health insurance carrier Blue Shield recently announced plans to increase its rates in California as much as 59%.This announcement has spawned much discussion and controversy regarding sharp premium increases.
In light of these increases, using the fringe benefit portion of prevailing wages to provide benefits for hourly workers makes even more sense from a bottom line perspective. Government contractors who are already using the fringe benefit monies to pay for benefits should make sure they are taking full and proper credit against the fringe to ensure they maximize savings on payroll burden.
You can read the article here.