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Health Products

Small Business Requirements and California Healthcare Insurance Considered

If you run a small or medium sized business you are the back-bone of our economy. Of course, with that incredible position, there are some responsibilities too. There are certain things you need to know, and be aware of when it comes to small business health care insurance in CA, such as tax incentives and penalty fees depending on the size of your payroll and number of employees if you choose not to cover health insurance for your employees.
California small business healthcare insurance and California small group insurance can be a good incentive for employees and the benefits they desire. By providing this insurance, you will improve the quality and productivity of your workforce and prevent excessive turn-over. Yes, it can be costly at times, and that’s why it’s important to look at all the options and get a plan that makes sense for your company.
Additionally, you may decide to use “carve-out” options in the policy, as an incentive for employees during their probationary period to maintain peak performance and productivity until they reach a point they may be added to the company policy. You might also wish to do this for executives or owners with individual health insurance policies already in place.
There are several ways to set up these group insurance policies and small business healthcare insurance plans in the California which can help you strategically, while maximizing your coverage and minimizing your risks and monthly premium expenses for your company health insurance requirements. After all, every business needs to watch costs and maximize profits to stay in business.
When it comes to the most common type of health care coverage; California private health insurance plans, and CA individual healthcare insurance it is quite common to create a policy that offers affordability and brings a bit of frugality to the equation. After all, affordable healthcare insurance is the primary goal; that is to say the lowest premiums for health insurance in California, reasonable co-pays, and maximum coverage.
There are many tactics we can employ to get this done. Some folks are okay with just catastrophic coverage, which usually means a higher deductible, along with very low premiums. If you are of substantial personal financial strength perhaps an HSA or health savings account might be wise. There might even be tax advantages for you to set up a Health Savings Account (HSA).
You can set up an HSA for your California family health insurance or your IL individual health insurance plan. Or, you might find it beneficial to consider ways to use such strategies in a private health plan in California or as part of your Medigap strategy. We can help with all these things, as we are your California health insurance specialists.
Your goal is to approach your health insurance needs with a strategic mindset to minimize risk and premium costs while taking advantage of tax incentives and benefits without sacrificing coverage. If you are a small business in CA, health insurance plans are on your mind, and you are not alone. Hundreds of millions of Americans and 30 million small businesses are also thinking here, many are worried, and uncertain about the future. That’s why you must do your homework and due diligence.
Many of the new rules for ObamaCare are very complex and have phase-ins between now and 2014, you need to know what is going on. So, you should call your local health care insurance broker for a small business guide and then ask them to help you through the process. Please consider all this.…

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Men'S Health

Small Business Planning Must Include Health Care Costs

Based on what little is known about the new health care bill that was just passed, it will have a huge effect on small to mid-sized businesses. One of the line items, as reported in a summary by the Wall Street Journal, is that in 2013 companies with over 50 employees must provide “affordable” health care or face a fine of $3,000 per employee (excluding the first 30 employees). It doesn’t state what “affordable” means.
In the same paragraph it states that the insurance industry must pay an annual fee of $8 billion starting in 2013 and rising in subsequent years.
I guess it’s lost on me how an industry can pay $8 billion in annual fees and still provide affordable insurance packages to small business.
I don’t know all of the intricacies of the proposed bill. I guess that makes me about as smart as the folks who passed it, they didn’t read it either. What I do know as a mid-sized company CEO for over 15 years affordable health coverage is in the eye of the beholder.
I cannot think of a single year where our health care costs were not increased to one of my companies. Every year we scrambled to try and balance plan benefits against rising costs while trying to keep employee contributions down.
Large corporations have bargaining power and volume, and are able to secure better pricing. The small and mid-sized business owner has no such advantage. While the new plan talks about Insurance exchanges to allow small business the opportunity to shop their coverage I don’t see that as any different than what they do currently. We had to shop our coverage every few years to keep costs in line.
The bottom line of all of this is costs for business will increase, and employers will take a harder look at hiring full time employees. Prudent companies will consider health care costs in their strategic planning process, deciding whether to make investments in automation vs. full time employees with an ever increasing cost base, It will make the playing field even more uneven with countries such as China where benefits and regulation are not a concern.
Health care reform is certainly needed. It’s unacceptable that so many Americans, especially the “working poor” as they are called, are without health care. The United States spends roughly twice as much as other developed countries on health care and millions are uncovered. There simply has to be a better way. But history has shown us that a government mandated and controlled program isn’t it.
One of the chief reasons why we spend so much on health care is the cost the insurance companies and health care companies absorb trying to deal with government bureaucracy. To see government health care effectiveness you don’t have to look any further than the VA and how our veterans are treated.
The full impact of this bill on business is unknown, even by those who passed it.…