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Health insurance for a small company

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kpotter

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Joined
Apr 30, 2001
Location
tucson arizona usa
I am going to try and get health insurance for the shop, we have 8 employees all of them are under 30 except for my wife and I. How bad is it and is it worth insuring them or letting them get their own policy. The cost of mine and my wifes coverage is going to be almost 3 grand a month by next year. I might be able to do a group plan and get better coverage even if it costs more at least my employees will be covered.
 
I am going to try and get health insurance for the shop, we have 8 employees all of them are under 30 except for my wife and I. How bad is it and is it worth insuring them or letting them get their own policy. The cost of mine and my wifes coverage is going to be almost 3 grand a month by next year. I might be able to do a group plan and get better coverage even if it costs more at least my employees will be covered.

Been several years since I was in the same situation. Back then one bit of advice was to check if you are -- or could be -- part of an association or group with some buying clout.

There aren't all that many good things about getting old. But one of them is being able to sign up with Medicare and a group Supplemental plan. It's still not exactly cheap (around $7-8000 per year for my wife and I) but better than paying a longer line of middlemen, each wanting a cut of the action along the way.

Good luck. Small businesses would really benefit if we did health care a bit more like Canada, the UK, Germany, France, etc.
 
Try to find an insurance broker that handles health insurance, they can give you options from more than one company.

A lot of small companies just give employees some extra pay, then refer them to healthcare.gov to purchase their own insurance.
 
Rules are constantly changing so it can be tricky.

If your state has a marketplace like Ca does it may have contract agents that sell coverage via the marketplace.

There may be plans that due to limited incomes or other odd things that you may qualify for may allow a better outcome than one could find via standard agent.

And as always get multiple bids.

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My friends welding business, dad 55 and son 36 only, went through the son's wife's school account. Basically they piggy back off their policy which makes it cheaper for everyone in general. I don't know any of the details but they said its the only reasonably affordable option for them.

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My friends welding business, dad 55 and son 36 only, went through the son's wife's school account. Basically they piggy back off their policy which makes it cheaper for everyone in general. I don't know any of the details but they said its the only reasonably affordable option for them.

And yet some majority (?) seems to want to keep you in a very complicated and expensive system that no other country has or wants to have :eek:
 
Im on a cost sharing through a religious group, cristian brotherhood, that works really good for my family. only requirement is somewhat of a religious belief systwm and no tobacco or ellegal drugs. my employee is on it also its about 450 a month for my whole family and good corverage on everything expensive but no doctor visits or prescriptions. Another one is medishare that has been advertizing real hard do your own research but it has been good for us. several of my brothers and sisters were born on it and that was 20 years ago and its still around it. also qualifys as forverage for obama care. the best part about these type of plans it makes you question every bill and every invoice because if you can get it reduced the reductions comes out of the copay
 
That is a noble sentiment, but since you are exempt, you would be well-advised not to get into the insurance mess. Small companies get the worst insurance deals, so you are paying a lot for bad quality policies.

Also, I find that the kind of employee that is attracted to health insurance is often seductively undesirable. They seem great, steady reliable workers, but at the end of the day, they are low energy cow milkers. It is better to get the dynamic, high turnover types that are independently minded. Sure, they are harder to manage, but ultimately you have the potential to create profit-generating chemistry. With the cow milkers, you never get that spark.
 
That is a noble sentiment, but since you are exempt, you would be well-advised not to get into the insurance mess. Small companies get the worst insurance deals, so you are paying a lot for bad quality policies.

Pretty much this ^^^^^^

It's a minefield for a small business. You are big enough that you'll need someone to manage the paperwork and claims information and etc and small enough that you have no buying power. ACA rules make it doubly treacherous, there are things you won't find out until too late unless you have someone REALLY savvy advising you. Such as - If you have an employee who wants to stay on a spouse's insurance policy from the spouse's employer, that's no longer allowed. If you offer insurance at your workplace, that employee must buy it from you, and they can't go on the state marketplace either. If you belong to an association like the Chamber of Commerce or similar, ask for help with their group coverage. If not, look for one you can join. I had my plan cancelled against my will when the ACA went into effect, since them I've had my guys get their own and just gave them big bonuses to cover the premiums plus the extra tax deductions it costs them:bawling: , and just count it as a cost of having had Nancy Pelosi running the USA gov't for a while.
 
And some minority with no dog in this fight, (you) always needs to point out that the rest of the world does it differently. No shit Sherlock!

My dear Watson I suggest you give some profound thought as to why the rest of the world doesn't do it "The American Way". It really is elementary.

While I play my violin you ponder the fact that you have the most expensive healthcare yet not the best.

List of countries by total health expenditure per capita - Wikipedia
 
I would generally stay away from the mess as stated above.

The exception is if you are a member of a trade group they may have a group policy you can buy into. I'm in medical devices and as members of Advamed you can get good coverage. As a small organization the Advamed dues are way less than your savings on the insurance policies. So you could check with NAM and other area associations to see if there is something similar. Trade groups are actually out to help you and many times the majority of their costs are covered by the large operations.
 
... (snip)...

Also, I find that the kind of employee that is attracted to health insurance is often seductively undesirable. They seem great, steady reliable workers, but at the end of the day, they are low energy cow milkers. It is better to get the dynamic, high turnover types that are independently minded. Sure, they are harder to manage, but ultimately you have the potential to create profit-generating chemistry. With the cow milkers, you never get that spark.

So, if you would prefer to have health insurance, you're a slub? And can't keep a job? And are hard to manage?

Got milk?
 
And some minority with no dog in this fight, (you) always needs to point out that the rest of the world does it differently. No shit Sherlock!

Just another example ( one of hundreds? ) of his doing nothing to actually answer someone's question or intent but rather take it as an opportunity to stir more dung. Ought start calling him "dung beetle". All he seemingly does is feed off shite.

Kevin,

We're in a similar boat at the moment. The recommendation to look into organizations that offer discounts is a good one. Ironically, AARP actually has some decent offerings for other things and we are looking into them for this, as well. Otherwise, ( and I don't like saying it ) not offering insurance seems to be gaining popularity AND general acceptance by many that are looking into employment. They seem to have begrudgingly accepted that they're doomed to entering the system, via the ACA plans. I'm interested to see what you end up doing. Hopefully, we can learn from it.
 
And yet some majority (?) seems to want to keep you in a very complicated and expensive system that no other country has or wants to have :eek:

I'm European (oh wait, Spain is part of EU?), and left my country to start a new life here. I doubt that I could accomplish what I've done here in only a few years, in Spain or any country of EU. I understand healthcare is really complex, but not always the sky is cloudy. You should educate yourself a few more, before making statements like this.
 
I'm European (oh wait, Spain is part of EU?), and left my country to start a new life here. I doubt that I could accomplish what I've done here in only a few years, in Spain or any country of EU. I understand healthcare is really complex, but not always the sky is cloudy. You should educate yourself a few more, before making statements like this.

It isn't complex but it can be made complex. You must have left Spain long ago.

Enlighten me and tell me what it is you like about the US healthcare system. Ever had the chance to try it out?
 
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Amazing. A U.S. shop owner asks for advice about buying health insurance and a foreign (or is he/she really a foreigner?) posts 4 times toting the benefits of socialized healthcare.

I second the suggestion to find some association to get the benefit of a larger group.
 
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