Blogs with bill
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What are Self-Insured Plans and When Should I Go Self-Insured
So far, we’ve learned about how health plans work, the elements of a health plan, and the differences between a fully-insured and self-insured health plan. But maybe a self-insured plan is the best for a business, and you want to find out more about it. In this article, I’ll go more in-depth about what self-insured plans are and the pros and cons. When should a small business consider a self-insured plan? Let’s limit our discussion to companies with…
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Health Plan Costs and Savings
For years, the answer to escalating health plan costs has been to shift more and more of this cost to employees. But is there an opportunity for real savings and…
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Pharmaceuticals Drive 20% of Health Plan Costs!
No one needs to study detailed tables to be aware of the rising costs of prescription drugs. Daily headlines and your wallet tell the tale. In 2004, 100ml of Lantus,…
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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…
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Fully-Insured vs. Self-Insured Health Plans
In my article entitled “Health Plan Costs and Savings,” we defined some basic elements of health plans. I also briefly introduced two different plans: fully-insured plans and self-insured plans. Let’s go into…
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“The New Normal”: COVID-19 and Small Business
“Things just aren’t the same anymore.” As small business owners, we hear this every day. COVID-19 has changed the world forever. This is the ‘New Normal.’ Probably some truth here,…
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Life Insurance–What’s Important?
Life insurance is critically important because it provides protection when it is needed the most. Thoughtful planning is required. There’s much to consider: Life insurance planning can be complex. It’s…
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A Small Group Employee Benefits Strategy – Are There Reasonable Options?
What is a small company to do about health insurance? Until a company reaches 50 employees (FTE – full-time equivalent), health insurance is not a requirement. Therefore, not offering health…
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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…
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Embrace Telemedicine, But Always Have A Safety Net
It’s difficult to use the words “Covid” and “Positive” in the same sentence, but the increasing utilization of Telemedicine is one positive effect of the pandemic. Telemedicine has been around…
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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…
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Let’s Learn About Health Insurance
Okay, I’m stumped. How do I make health insurance interesting to a business owner who only wants to run his/her business? It’s expensive, and it’s complicated. What’s not to like…