Small Business Ownership is not for the feint of heart! There is a big gamble once you go into business for yourself. Small business owners are often on very tight budgets when they first start out and view insurance as a luxury or something that they cannot afford in the beginning. Health insurance is meant to protect a business, especially in the early stages, from crippling financial burdens brought on by unexpected medical costs.
With so much new information, it can be difficult to navigate around – that is where we come in.
It is important for us to get you the right information at the right time. We have put together some information that is aimed at simplifying three key issues you need to know. But there are likely more information that would help you.
Small Business Tax Credits ($40 billion in credits by 2019)
- Currently in effect (as of tax year 2010)
- Businesses eligible for tax credits must have fewer than 25 full-time employees
- Employees average annual wages must be below $50,000
- The employer must pay at least 50% of the premium cost
- Tax credits do not cover premium expenses of owners or their families
- Tax credits cannot be claimed by the self-employed but they are eligible for premium subsidies for individual Exchange
- Stop loss coverage may be an appealing option for certain small businesses based on their profile and ability to bear risk
- Wellness-based health plans
- These plans are available inside and outside of the Exchange
- They provide incentives for employees to complete health action
- YOU are the missing link in cost control
- More transparent competition should lead to lower prices among providers and insurers
- All employers must demand products that put competitive pressure on providers
Health insurance professionals are becoming more important. There is a lot of information out there, and it is changing regularly. Ideally, health insurance and reform would be simple enough that anyone could easily navigate their choices and options for themselves, however, that is not the case. We help make your choices more clear and even help with recommendations when needed.
Most owners and managers want to do one or more of the following:
1. Make more money
2. Save money
3. Make their job easier.
I understand and am here to make sure you have more time to earn money, that you don’t spend too much in the process and to make your job a little easier. I am not only a father and grandfather, but I owned and operated an oil service business for over 20 years before changing industries in 2007.
What is most important to you? Your business?
What are concerns that you are dealing with currently, and in near future?
How can I help you today?
I am truly interested in what is important to you and often meet or talk to families or human resource officers about potential changes or questions about coverage or policy.
When it comes to running a business, or running a family for that matter, having the facts can make all the difference in the world. Whether you are expanding your family or business, trying to optimize your benefits program, or trying to balance cost with value – I am here to answer your questions and provide advice on issues you may not have considered. As seasoned experts we have most information at our finger tips, but what we don’t have I can get for you.