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health insurance small business

Old Feb 23rd 2009, 6:22 pm
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Default health insurance small business

I'm in the process of weighing up whether or not to buy a small business (a nursery school) in the US, and to apply for a visa, etc.

The business in question is registered for 60 children, so when running at full capacity, would have about 12 employees. Would I, as an employer, be obligated to provide some kind of Health Insurance scheme for these employees, and if so, what would the financial implications be? What do other people with similar sized businesses do?

Any advice would be much appreciated.
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Old Feb 23rd 2009, 6:28 pm
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Default Re: health insurance small business

Originally Posted by deepbluesea View Post
I'm in the process of weighing up whether or not to buy a small business (a nursery school) in the US, and to apply for a visa, etc.

The business in question is registered for 60 children, so when running at full capacity, would have about 12 employees. Would I, as an employer, be obligated to provide some kind of Health Insurance scheme for these employees, and if so, what would the financial implications be? What do other people with similar sized businesses do?

Any advice would be much appreciated.
you're not obligated.
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Old Feb 23rd 2009, 6:36 pm
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Default Re: health insurance small business

Originally Posted by deepbluesea View Post
Would I, as an employer, be obligated to provide some kind of Health Insurance scheme for these employees
No. But if you don't, expect to find yourself 12 staff lighter. There should be a small business solutions provider in your are that does all sorts of benefit things based on members buying into plans rather than the individual company having to do it. Cost could be pretty much anything depending on what plans you go with and how much of it you pay.
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Old Feb 23rd 2009, 6:49 pm
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Default Re: health insurance small business

Originally Posted by deepbluesea View Post
The business in question is registered for 60 children, so when running at full capacity, would have about 12 employees. Would I, as an employer, be obligated to provide some kind of Health Insurance scheme for these employees, and if so, what would the financial implications be? What do other people with similar sized businesses do?
A lot of childcare workers do not have health insurance cover through their employer as it may not be cost feasible. Certainly you'll have the best pick of employees if you are able to offer this benefit. How much per month do the parents pay for their children?

Some of the workers might opt out of paying for coverage if they are covered under their spouse's plan. You would then be left with too small a group for a policy. However, it may well be worth doing because you've got to provide for your own health insurance.
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Old Feb 23rd 2009, 6:54 pm
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I smell E2.
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Old Feb 23rd 2009, 7:19 pm
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Originally Posted by fatbrit View Post
I smell E2.
At least not a dozey one; see past posts.
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Old Feb 23rd 2009, 7:50 pm
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Default Re: health insurance small business

At the moment the parents are paying $200 a week, which is really really low in comparison to London nursery fees. On the other hand, the overheads are comparatively low if you don't factor in health insurance (and I have no clue what that will cost). I will look into a small business soultions provider - thanks for the heads up on that.

I spoke to an immigration lawyer today who said I would be eligible for either an E2 or L1 visa based on the fact that I have two other nurseries in the UK that will continue to operate.

I just have to work out whether it's worth it. I certainly don't want to make a loss on the US business ...
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Old Feb 23rd 2009, 7:54 pm
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Default Re: health insurance small business

Originally Posted by deepbluesea View Post
At the moment the parents are paying $200 a week, which is really really low in comparison to London nursery fees...
as a percentage of the disposable income of the parents, it's probably the same is London nursery fees though.
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Old Feb 23rd 2009, 8:04 pm
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Default Re: health insurance small business

Originally Posted by deepbluesea View Post
I will look into a small business soultions provider - thanks for the heads up on that.
In the Cleveland OH area, there's an outfit called COSE that provides solutions like that. Look for something similar in the region where the nursery is. COSE link.
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Old Feb 23rd 2009, 8:21 pm
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Default Re: health insurance small business

Originally Posted by Manc View Post
as a percentage of the disposable income of the parents, it's probably the same is London nursery fees though.
Depends on the exact location.... my brother and SIL pay over $1000.00 per month for my niece, who's still under three. If in NYC/LA/SF/Silly Valley, I'd bet it would be more.

In 1992 I paid - $350.00 per month. I felt that was too low and I gave generously for extra equipment, staff bonuses, etc.
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Old Feb 23rd 2009, 8:30 pm
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Default Re: health insurance small business

Originally Posted by snowbunny View Post
Depends on the exact location.....
She was looking in Minneasota.
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Old Feb 23rd 2009, 8:30 pm
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Default Re: health insurance small business

We're going to be paying $190 a week for a newborn, the prices go down depending on the age. That's not so high comparatively, $170-250 a week is the norm around us. However, that pretty much includes nothing other than the kid being taken care of and a crib, everything else we have to provide. I thought they were taking the piss when they quoted the price, after I said "that's not bad for a month." I would imagine that the cost would be significantly different if you compare New York city, podunkville Kentucky and where we are.
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Old Feb 23rd 2009, 9:04 pm
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Default Re: health insurance small business

Originally Posted by deepbluesea View Post
I spoke to an immigration lawyer today who said I would be eligible for either an E2 or L1 visa based on the fact that I have two other nurseries in the UK that will continue to operate.
If you're "moving" to the US, far better on an L1 than an E2.
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Old Feb 23rd 2009, 9:07 pm
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Default Re: health insurance small business

Thanks for the COSE link - it's really useful.

In my London nurseries, the parents pay per term rather than per month because they operate on a school year basis. For a full time place the fees are just short of £10,000 per year, so you can see this is substantially different to the US model (which is in Minnesota). Both my London nurseries are full, but even so, I can't afford to live there!

I'm working on the assumption that the cost of living in Minnesota (even factoring in health insurance) will be much lower. If it isn't, I ain't bothering!
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Old Feb 23rd 2009, 10:36 pm
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Default Re: health insurance small business

Originally Posted by snowbunny View Post
Depends on the exact location.... my brother and SIL pay over $1000.00 per month for my niece, who's still under three. If in NYC/LA/SF/Silly Valley, I'd bet it would be more.

In 1992 I paid - $350.00 per month. I felt that was too low and I gave generously for extra equipment, staff bonuses, etc.

Here outside of Manhattan the starting price for one child, still in diapers, is $1200 a month and drops $200 when diapers are no longer needed. Plus you supply the diapers, formula, toys, baby food, etc.
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