Making Small Business Health Insurance Affordable
Small business owners have known and understood the benefits of being able to provide their valuable employees with health care. Unfortunately, many small business owners cannot offer health care without jeopardizing their own financial stability. There are some things you can do though.
If you have already been searching for an affordable plan, then you may have come across an online broker like Ehealthinsurance. While Ehealthinsurance is great for getting a broad view of the marketplace, I would also recommend talking with a human broker, as well as an agent.
Increase your chances of saving money by shopping around. Talking with agents from different companies will usually reveal more options than you previously knew. Additionally, your particular situation will be assessed and handled differently from company to company, so it never hurts to know your options.
If the prices are still too unaffordable, there may be other options. You can get a Health Savings Account (HSA). This is a tax-advantaged account funded with contributions from you and your employee to be used specifically for medical purposes. The employee contributions can also be made with pre-tax dollars, saving employees some cash during tax time.
If and when you do find an affordable health care solution, you can always reduce your payments by the usual methods. Paying higher deductibles and co-pays will significantly reduce premiums. Depending on your state requirements, you may be able to make your employees contribute more for health care than the typical fifty percent.
There are also alternative types of plans that will reduce company medical insurance rates. Instituting wellness programs, as well as using nurse hotlines can go a long way towards staving off doctors’ visits, and health related problems.