Health Insurance for Employees

Discussion in 'Growing and Managing a Business' started by Clayton, Dec 22, 2010.

  1. Clayton

    Clayton
    uix_expand uix_collapse
    New Member

    Joined:
    Dec 10, 2010
    Messages:
    2
    Likes Received:
    0
    My partner and I have a small business making in the mid to high $xx,xxx per month, and would like to start offering health insurance to our employees, which is something we've never done before. Any insight on where to start would be great :cool:
     
  2. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,575
    Likes Received:
    1,165
    Hi Clayton, welcome to our business forum, nice to meet you here.

    How many employees do you need insurance for?

    In what country or state is your business based in?
     
  3. Clayton

    Clayton
    uix_expand uix_collapse
    New Member

    Joined:
    Dec 10, 2010
    Messages:
    2
    Likes Received:
    0
    We have 5 full time employees and we are located in the U.S.

    Thanks
     
  4. stevenricherd

    stevenricherd
    uix_expand uix_collapse
    New Member

    Joined:
    Mar 18, 2011
    Messages:
    16
    Likes Received:
    0
    Employees who enroll for the Employer sponsored insurance are more likely to be male, work full time, belong to a union, and work in public administration or the public sector. Married workers with or without children are less likely to enroll than unmarried workers since, in many cases, married people have the option of being covered under a spouse's policy.
     
  5. CloptonCapital

    CloptonCapital
    uix_expand uix_collapse
    Member

    Joined:
    Mar 18, 2011
    Messages:
    87
    Likes Received:
    0
    It's really not that hard to setup. I would look into a "cafeteria" plan where a set amount of dollars per employee per month is allotted to such an expense.
     
  6. Gary Barzel

    Gary Barzel
    uix_expand uix_collapse
    Member

    Joined:
    Jan 10, 2011
    Messages:
    135
    Likes Received:
    48
    Doing your research before making decisions can increase your chances of lowering your health care costs. There are several sites online that offer free quotes. One site you can look at is ehealthinsurance.com.

    You can also set up a health savings account (HSA). A HSA is a tax-free savings accounts for medical expenses. Both employees and employers can contribute to the account, and it must be coupled with a high-deductible health plan. With this method, the policy holder gets the necessary insurance coverage, while the HSA provides the means to fund the additional out-of-pocket costs on a pretax basis. The money in HSA can be carried over from year to year, and it is portable.
     
  7. CloptonCapital

    CloptonCapital
    uix_expand uix_collapse
    Member

    Joined:
    Mar 18, 2011
    Messages:
    87
    Likes Received:
    0

    You're not going to get accurate group proposals at ehealthinsurance for group benefits.
     
  8. sigma

    sigma
    uix_expand uix_collapse
    Active Member

    Joined:
    Aug 31, 2009
    Messages:
    1,944
    Likes Received:
    283
    What i did is plan out the budget and set up a fund, call the insurance company, tell them what you need and get proposal from them. It is always better to let the professional give you an advice. What you need to do is choose the best plan
     

Share This Page