 |
|
Tips for Small Business Owners Shopping for Health Insurance
The new trend in the job market is that the low-wage hourly workers, the people most like to be uninsured, are now being offered medical plans in their budget ranges. Small restaurant owners, day care providers, and other small businesses are realizing that to get good people to stay, they need to offer them an incentive. Almost all people expect heath benefits today to be in their benefit packages. This can be costly to you, the small business owner, because the best group rates are for large companies with lots of employees. You might find yourself forced to give a higher premium to your employees, but having the benefit is better than nothing. Plus even though they pay a higher premium, it is still much less expensive than a private rate for them. You need to stay competitive though and not offer something that is truly different than all other businesses, including large ones. If the overall cost to the employee is so high, then they might just decide to go work somewhere else. Find out what your employees need the most and purchase plans that fulfill those needs and not a bunch of things they are not interested in. Most basic plans can cover routine doctor visits, sick visits, hospitalizations, medications, and emergencies and still be a reasonable price. You might want to look at what larger companies offer and see if you can make some of that work for you and your employees. The playing field is not fair for the small business owners; premiums are higher and more expensive than for larger places. But there are many ways to get a good package that is still reasonable in cost. Make sure you know what types of coverage is mandatory and what is not. Some states have requirements on such things like fertility treatments that even though your employees might not need are a necessity. These types of necessities are what make it so hard for the small business owner to provide affordable health coverage. Don’t despair, there is still hope. There’s no question about it that small businesses are in a tough spot. You are not powerless though by any means. There are several options including having the employee pay more of their own premium, having higher co-pays for employees, making sure you have an HMO verses a PPO, and also having the plans be just for the employee rather than offering a family plan. You can also save money in what type of prescription drug plan you are going to offer. Many doctors are offering more medical treatments for correcting diseases and disorders verses more costly invasive procedures. With higher drug costs and most of that cost having to be passed to the employee, it might be better to offer a drug plan then to have that included in the health package. The employee will pay a very small premium for this benefit and save 50% or more on their prescriptions. If you decide to include prescriptions in your over all plan, think about having higher co-pay at the pharmacy. So, instead of a smaller $5-$10 co-pay you might have it raised to $20-$30 to save money on the monthly premium. DISCLAIMER: This information is for educational and informational purposes only. The content is not intended to be a substitute for professional advice. Always seek the advice of a licensed Insurance Agent or Broker with any questions you may have regarding any Insurance Matter. About the author of: Tips for Small Business Owners Shopping for Health Insurance Thomas Hunter is an Internet marketer, author and publisher and has helped hundreds of people save money on their health insurance. Visit us at http://DiscountOnlineQuotes.com spend 5 minutes and get your no obligation Health Insurance Quote. Article Source: http://netsalesinc.com If you have a website or ezine you may freely post this article on your site as long as you include the full resource box above. All links must be active / clickable with no syntax changes.
|
|