Affordable Healthcare for small employers

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PostPosted: Thu Feb 07, 2008 1:19 am   Post subject: Affordable Healthcare for small employers  

I work at a very small personal care home, we only have 9 people there right now, the max that we have had is around 16. We all get paid minimum wage. We are all generally happy and enjoy our jobs, we love our people we care for. So this is not the issue.



My questions is what do you advise an employer in this situation about purchasing healthcare for their employees. Is there a group plan out there that the employer in this situation could afford, if the employees would agee to absorb some of the cost. I really need something to take to my employer and try to get something in place for us all. thanks in advance for all your help.

August
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PostPosted: Thu Feb 07, 2008 7:25 am   Post subject: definitely!  

Hi August,



When I looked through a 2002 survey results depicted in a website, I discovered that even smaller firms with employee-strength worth 50 or below had group plans in place for their employees. Hence, I see no reason why you should not ask your employer to go for it!



Rugged@terrain


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PostPosted: Thu Feb 07, 2008 7:26 am   Post subject:   

Quote:
My questions is what do you advise an employer in this situation about purchasing healthcare for their employees. Is there a group plan out there that the employer in this situation could afford,




The best way to find out about it by doing a bit of research in the local health insurance market. I bet, you'll definitely find something that'll suit your purse. Ask few of the local agents. However, a small employer is not legally bound to offer health coverage to his employees but many do so to retain the workers. And most of the time the employees are requested to share or to take up the whole cost of the coverage. The comparative study of the health coverages available in the market may give you a fair idea about the benefits offered and its cost. Good luck!



Pindropsilence

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PostPosted: Thu Feb 07, 2008 7:31 am   Post subject: federal law  

Well, thats there for sure. Also would like to mention over here that such small group health plans are offered by a majority of carriers but are governed by the individual states. As per the federal law, an insurer can't decide upon offering a policy to his employees on the basis of health condition of his employees, the illness they are suffering from or depending on the number of dependents that they might have.

Thanks,

Jillbeckinsley


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PostPosted: Thu Feb 07, 2008 7:35 am   Post subject:   

Hi August, your employer surely satisfy the eligibility criteria to purchase the group health coverage for the employees. An employer needs to have not less than 2 and not more than 50 employees to qualify for group health coverage for small employers and a company can't deny you the coverage because of the small size of the group. However, the cost will vary upon the type of policy you opt for. And all the permanent employees ( pls check out the eligibility criteria) will receive coverage under the policy as a group policy can't practice discrimination upon the health status of any employee.


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PostPosted: Thu Feb 07, 2008 7:37 am   Post subject: factors for premium  

Hi friends...one thing I'd like to mention over here is about the calc of the premium rate for such employees in a group. I've known such group-insurers to weigh the risks based on the nature of the industry that they are into, their average age, geographical position, the size of the group etc.) MandateInsvoter


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PostPosted: Sun Feb 10, 2008 2:28 am   Post subject:   

It sounds as if both the employer and employees can't afford too much.



In some cases, offering an HSA might be the answer. It will have more out-of-pocket expenses than a traditional plan, but the cost will be much lower.



Often, preventative coverage is included with just a copay. The tax advantages will probably be minimal since incomes are low.

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PostPosted: Sun Feb 10, 2008 3:08 am   Post subject:   

I have never heard of this before. I deal with a lot of employers where I work, I would be interested in knowing more about this option, do you have a webpage that would speak about HSA?

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PostPosted: Sun Feb 10, 2008 3:25 am   Post subject:   

Actually, the.gov web page dealing with HSAs would be a great source (see below)



http://www.ustreas.gov/offices/public-affairs/hsa/





You can request a group HSA quote from many carriers. I think UHC still offers it.

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