Small Business
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Level Premium – A Plan For Your Small Business
The Affordable Care Act caused a dramatic shift in the health insurance landscape, particularly for small businesses. Underwriting a fully insured plan under 50 employees is no longer allowed. While this simplifies the process and offers many protections, the inflationary impact has been enormous, driving many employers to evaluate the feasibility of having no health plan at all, or to consider self-funding. Remember: What is a self-funded plan? What is required for a company to…
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Plan Your Benefits – Timing Is Everything
The 4th of July is quickly approaching. The renewal date for your benefits is not until January 1. You’ve got plenty of time to get this done. Right? Maybe, but looking at your benefits package mid-year may be the best time to begin the process. 1. No changes to your benefits are scheduled for several months. It’s the perfect time to evaluate your entire package and to begin thinking about any changes that you would…
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Benefits And Perception (Part I)
When I first begin discussions with business owners regarding benefits, their first statement often goes something like this, “I pay a fortune for my benefits package and all my employees do is complain about it.” Employee perception of benefits often simply is not supported by reality. Why is this and what can be done about it? Communication and Engagement:For benefits communication to be effective, employees must be engaged in the process. Too often, a business…