Health Insurance for Self/Employees
I've been looking around for a good insurance plan for myself and my employees in a business that we are about to open. I've got a couple of options (your standard IBX, Aetna, etc). But I wanted to see if any other small business owners had any experience or recommendations on the best company/plan to get.
The initial number of employees would be small, 5-6 full time staff, to start; eventually getting up to ~15 at peak. We'd *like* to offer something for part time employees but most likely will not, at least initially. And we're more concerned with a good plan for the employees, rather than what is the cheapest.
I respect your desire to be a benevolent employer. But you've basically just laid out a business plan to run yourself out of business very quickly. I don't know if this is the first business that you owned, but I think you will find out very quickly that providing ANY health insurance, even the most basic coverage, makes it extremely difficult to stay in the black.
Originally Posted by yeshua
You're a lot better off starting with a very basic health plan for full time employees only. If you start out with a very rich benefit plan, it will be extremely difficult to reduce those benefits down the road when you realize your benevolence is driving you out of business.
Yeah, I have a recommendation--use an insurance broker. I am set up as a company with 1 employee. Reason being is that they can't base my premium costs on my afflictions or something like that.
Anyway, a broker should be able to compare companies and options for you. What's best this year might not be the best come January 1 and you'll be able to renegotiate something with him or her when the time comes and your premiums change.
I use a guy, Sam Carpin. If you need his info, PM me.
Licensed Pennsylvania Real Estate Salesperson and inactive and happily non-practicing Attorney, CITYSPACE
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