More and more, we see people leaving the comfort of a big organization to branch out on their own. Whether they are tired of being micromanaged or are just interested in doing something different, people are making this move in record numbers.
Becoming a business owner comes with many considerations. While small business owners face a number of obstacles, securing health insurance is probably one of the most common. Surveys report that 23% of small business owners state that the rising cost of insurance stifles success. Today, it is estimated that only about 49% of all small companies offer insurance compared to 98% of the larger corporations.
The reality for most small business owners is that the cost of insuring themselves, in addition to staff, would have a dramatic impact on the business. For some people, health insurance is provided by a spouse, but as people get to retirement age, these benefits often go away. Young people may get coverage through their parents, struggle to get and keep an individual policy, or simply go without.
Some Chambers of Commerce in towns and cities across the nation provide options. In this case, if you were a member of the Chamber, you might have some choices for health coverage, but keep in mind that many times these insurance plans are expensive. However, if there were no other resources, it would be a consideration.
While there is no perfect solution to addressing health insurance coverage in your business, the news isn’t all bad. There are a number of reputable and qualified companies dedicated to helping small business owners establish health and other types of insurance. Here are a few recommendations for your consideration:
Standard (http://www.standard.com) This company has been working with small businesses for years, establishing the right employee benefits. In addition to group insurance, they also have plans for group life, group long term and short-term disability, and even group dental.
Bank of America (http://www.bankofamerica.com/insurance) B of A has options pertaining to small business insurance benefits, matching needs and budget to the perfect plan.
NASRO (http://www.nasro-co-op.com) This acronym stands for National Association of Socially Responsible Organizations, which is geared toward helping employers, professional associations, and cooperatives find affordable health insurance in states to include California, Massachusetts, Maryland, Washington, Washington DC, and Virginia.
America Medical Security (http://www.eams.com) This organization offers competitive medical, dental, and term life coverage through various independent agents. The plans are flexible to meet the needs of any size company, even small ones.
eHealth Insurance (http://www.eams.com) This site allows you to shop for several types of health insurance across a number of providers, all from the comfort of your keyboard.
Health insurance coverage is a big part of putting a business together, whether you intend to only cover yourself or will be offering it as a benefit to employees. Take the time to thoroughly research your options, and include your tax and legal advisors in the process. It is better to understand all the facets and come up with a solution that will remain viable as your company grows.
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