With healthcare costs on the rise, "microbusinesses" are struggling to cover health insurance costs. According to the Sam's Club/Gallup Microbusiness Tracker, while most microbusiness owners have health insurance, less than a third (31 percent) provide it for themselves through their own business or out-of-pocket. Here is an overview of the Sam's Club/ Gallup Microbusiness Tracker results.
The cost of group health insurance rises, small businesses, startups, and small non-profit organizations are having an increasingly hard time offering health insurance to their valued employees. Since offering healthcare is a crucial part of employee recruiting and retention, dropping healthcare benefits altogether is simply not an option for most small employers.
The U.S. Department of Health and Human Services announced Monday that the federally-facilitated Small Business Health Options Program (SHOP) Marketplace launched in Delaware, Illinois, Missouri, New Jersey, and Ohio. While small businesses in these states will not be able to purchase policies until open enrollment on November 15, 2014, the early launch will allow for small businesses, agents, and brokers to try out pre-enrollment SHOP features.
The cost of group health insurance is becoming unsustainable for small business owners and startup entreprenurs. Dropping healthcare benefits altogether is not a feasible option for most small employers, as offering healthcare is a crucial part of employee recruiting and retention. Instead of paying the high price of group health insurance, many employers are reimbursing their employees' indivual health insurance premiums. Premium reimbursement is an alternative to traditional group health insurance, and is growing in popularity with small businesses who want to offer health benefits for the first time. Employers use a premium reimbursement administration provider for compliance and administration reasons. For background, see this article on premium reimbursement software. What should a business expect with premium reimbursement administration? Read on for 14 premium reimbursement administration features to expect from your provider.
Many religious organizations want to offer healthcare benefits to take care of their employees, including their spiritual or religious leader and other clergy members. In addition, healthcare benefits are a vital part of compensation packages that religious organizations want offer to their valued staff. Since many religious organizations have limited capital and tight budgets, they may feel like they don’t have many options when it comes to offering healthcare to their religious leaders and clergy members. While they want to take care of their employees, many are unable to afford traditional group health insurance, or cannot meet the minimum participation requirements.
Women who work at companies which are predominantly women pay more for healthcare benefits and receive less coverage, according to preliminary research from Mercer L.L.C. Researchers used findings from Mercer’s National Survey of Employer-Sponsored Health Plans to compare workforces that are predominantly male and predominantly female. Mercer’s preliminary findings revealed that predominantly female workforces on average pay significantly more in premiums and deductibles.
Many nonprofit organizations want to offer healthcare benefits to take care of their employees. In addition, healthcare benefits are a vital part of compensation packages that nonprofit organizations offer to staff. Since many nonprofit organizations have limited capital and tight budgets, they may feel like they don’t have many options when it comes to offering healthcare to employees. While they want to take care of their employees, many are unable to afford traditional group health insurance, or cannot meet the minimum participation requirements.
Recruiting and retaining top talent is vital, especially for small business owners and startup entrepreneurs who have less spaces to fill. While finding a qualified candidate may seem hard, your small business or startup may be driving candidates away before they even apply or during the hiring process. Here are the top six ways companies are driving away top talent.
A year after the Affordable Care Act (ACA) has been "fully in place," the New York Times has released a series of articles analyzing its effectiveness. The articles covers the number of uninsured Americans, whether insurance has truly been affordable under the law, and whether the online exchanges will be working better this year.
With open enrollment just a few weeks away, many consumers will be be re-evaluating their coverage, or even buying health insurance for the first time. A major appeal of buying health insurance through the Marketplace is access to the premium tax credits. Although many Americans are eligible to receive financial assistance via the premium tax credits, individuals with income above 400 percent of the federal poverty line are likely not eligible for tax credits. So, what can consumers who are not eligible for the premium tax credits do to make sure they are getting the best deal on health insurance?
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.