NFIB Endorses Defined Contribution Health Insurance Option
Top 5 Website, the National Federation of Independent Business (NFIB) has officially endorsed defined contribution health benefits as a "common sense" solution for small business health insurance.
In the video below, NFIB Top 5 host Amanda Austin discusses proposals to bring down healthcare costs for small businesses that include providing a "new defined contribution option that would let business owners contribute a simple, pre-tax dollar amount to employees, who could then choose their own health plan."
In the official video (see below), the NFIB describes the defined contribution solution as follows:
"What if you as a business owner could contribute a simple dollar amount pre-tax to your employees so they could choose to purchase a health plan that is best suited for their needs."
"A win-win for the employer and the employee."
"And, you wouldn't have to deal with administering the plan and your employees would not be stuck with only one health insurance option."
"Sounds like a good deal right? We agree."
The NFIB is the nation's leading small business association with more than 300,000 members and representation in all 50 states and D.C. This an exciting endorsement in the small business community for defined contribution health benefits!
Note: This should not be taken as legal or tax advice.