I understand – paying for health insurance AND paying wages can be a big expense – especially for small businesses. So how to offer Business Health Insurance Plans and all the wonderful ancillary benefits of a large company to our employees and not lose our business because of the additional cost to us?
We have the solution.
NO, it is not offer a substandard plan that the employees have minimal coverage
NO, it is not pay such high premiums – you aren’t sure if you are paying their salary or paying for their insurance.
The answers are within two simple answers:
Who is the carrier?
What are you contributing?
Who is the carrier? It is extremely important that you only use carriers that you have heard of. The old familiar names – Blue Cross/Blue Shield, United Health Care etc. NEVER and I do repeat never go with a carrier or association plan where you are not familiar with the name of the company.
We have been in this business for more than 30 years and have seen carriers come and go. It is very important to only deal with name brands. …the second part of this is that carriers float in and out of the Small Group Market place, so you again need to know the players in this market before you make a decision. U-Connect will do this for you.
We will analyze and provide choices for you. We do not pick a carrier and say “use this one!” we will show you the options and let you decide what/who is the best carrier for you.
What is your contribution level? Whether you are new to offering insurance to your employees or have provided insurance for many years, it’s important to revisit your contribution level. Are you contributing an amount you can afford? Is it too high or too low?
For example, we have clients that are in the HVAC business – their competitors are union shops. They know that these shops pay 100% or close to 100% of their employee’s high-level plans. They feel like there is no choice but to pay the full premium for these plans. But what other options could be looked at?
One option would be to offer high deductible plans that would lower the cost AND subsidize the deductible. This would decrease the premium for the plans and (as long as the group is healthy) decrease the overall cost of the plan.
Another example is a company that just started offering health insurance. Do you pay 100% of the premium. My answer would be – if it is not necessary to keep talented employees – than no. The minimum amount that you need to contribute to an employee plan is 50% of the employee rate for the lowest cost plan. BINGO!
Now you have a solution where you can offer coverage and not have to pay very much. You are now ahead of the competition!
Ancillary Benefits – YES, Dental, Vision, Long-Term Care, Short and Long Term Disability and, Life Insurance – DO IT!!! You can offer these plans on a voluntary basis if you cannot afford to pay for them now.
Use the links below for more information on Group Health Insurance and Ancillary Benefits:
Group Health Insurance
Short and Long Term Disability
Long-Term Care Insurance
Same with your retirement plans – DO IT NOW!! Offer these options
You do not have to pay anything (possibly an administrative fee for the retirement plan but nothing more).
Your options are clear and easy to choose. All you need is a trusted advisor to get you where you need to be.
U-Connect Health Insurance is here for you!