If you are an employer and considering offering Affordable Health Insurance for your Small Business, there are a lot of things to consider. You probably already know that you, as the employer, only have to contribute 50% of the solo employee premium for the cheapest plan offered. The employee is responsible for their own family if they choose. There are some strategies around obtaining Affordable Health Insurance with ObamaCare in place. The plans have become more comprehensive and therefore cost more. Many companies are turning towards a higher deductible plan and then helping the employees “insure their deductible” with supplemental products.
How employers can “insure” their deductible with great products to produce Affordable Health Insurance
When you have a high deductible Affordable Health Plan, there are some drawbacks. Besides being able to go to the doctor for a small fee, most other things are expensive and you have to meet the high deductible first, before you see any type of benefit. Many companies, including my own, are using products that help “insure” the high deductible, so its not so much of a sting when you have to use expensive services. These products pay for things like hospital stays, broken bones, cuts, ER visits and a host of other accidents. These products truly do make Health Insurance a little more Affordable Health Insurance. Face it, nothing is cheap now, it just isn’t, but you can definitely find strategies like this to help pay the unexpected hospital bill.
Strategies that make Health Insurance a little more affordable
When you have strategies in place, like the supplemental products that we use, or help employees fund an HSA account on a high deductible plan, you’ve become much more creative and taking charge of your destiny. I’ve seen many companies move to one of these platforms and save as much as 20-30% from their previous Health Insurance plan, AND their employees are more satisfied. It really becomes an education issue. When the employees are more educated about their plan and how it works, they become more engaged and satisfied. That is the broker’s job. If you have a broker that does that, hold onto them…if not, hire us.