health insurance small business
Feb 25th 2009, 1:34 am
#16
Searching for contentment
Joined: Dec 2008
Location: Houston, TX
Posts: 513
Re: health insurance small business
Hi DeepBlueSea
I run a business in the US and although not obligated to do so, I do provide health and dental at 100% coverage by the company. I decided to do it as I myself had been so freaked out by healthcare when I arrived, I didn't want my staff having that worry. The loyalty and retention it has developed amongst my team is fab and I wouldn't have it any other way!
Having said that, I did look at reducing the 100% company cost during these rather volatile economic waters (which I didn't do in the end), but the minimum I would have been able to drop it to would have been a 50% contribution. I pay on average about $250 a month per staff member for health, and about $25 on dental. We have a $5,000 ER deductible but all other co-pays are reasonable. About $30 to see a Doc and about the same for prescriptions. It's treated us all well so far. It's with Humana, who you'll be able to check out online. Hope this helps you get your head around figures a little bit more.
I run a business in the US and although not obligated to do so, I do provide health and dental at 100% coverage by the company. I decided to do it as I myself had been so freaked out by healthcare when I arrived, I didn't want my staff having that worry. The loyalty and retention it has developed amongst my team is fab and I wouldn't have it any other way!
Having said that, I did look at reducing the 100% company cost during these rather volatile economic waters (which I didn't do in the end), but the minimum I would have been able to drop it to would have been a 50% contribution. I pay on average about $250 a month per staff member for health, and about $25 on dental. We have a $5,000 ER deductible but all other co-pays are reasonable. About $30 to see a Doc and about the same for prescriptions. It's treated us all well so far. It's with Humana, who you'll be able to check out online. Hope this helps you get your head around figures a little bit more.
Feb 25th 2009, 7:49 pm
#17
Just Joined
Thread Starter
Joined: Feb 2009
Posts: 6
Re: health insurance small business
ukintexas - Thanks so much for this - it's really helpful. $250 a month per employee is manageable. Do you include yourself in the scheme as a company employee?
I'm very much cheered by this. I had convinced myself that the figures would be closer to $1000 per staff member.
I'm very much cheered by this. I had convinced myself that the figures would be closer to $1000 per staff member.
Feb 25th 2009, 8:56 pm
#18
Forum Regular
Joined: Apr 2005
Location: St Ives to So. Cal.
Posts: 258
Re: health insurance small business
Medical insurance is assessed based on age and zip code of employee - at least it is here in California (probably one of the more expensive states) for 9 employees we pay a total of $5,541 .. although each employee pays 25% of their premium through payroll deductions, so a net of $4,617.75.
We pay 100% for the owners, one of the owners and his wife are both over 60, their premium alone is $1,259.00 a month.
We are a small employer of 13, and the medical insurance we offer is Blue Shield HMO. If an employee want to chose PPO then they pay the 25% plus the difference between the HMO and the PPO premium.
HTH
Dawn
PS: Don't forget you'll need workers compensation insurance, ours is approx $3,800 a year .. yours might be a higher classifcation (i.e., employees more at risk of injuries and accidents) since our office is purely sedentary. You'll also need liability insurance.
We pay 100% for the owners, one of the owners and his wife are both over 60, their premium alone is $1,259.00 a month.
We are a small employer of 13, and the medical insurance we offer is Blue Shield HMO. If an employee want to chose PPO then they pay the 25% plus the difference between the HMO and the PPO premium.
HTH
Dawn
PS: Don't forget you'll need workers compensation insurance, ours is approx $3,800 a year .. yours might be a higher classifcation (i.e., employees more at risk of injuries and accidents) since our office is purely sedentary. You'll also need liability insurance.
Feb 25th 2009, 9:20 pm
#21
Lapine Member
Joined: Nov 2004
Location: Austin, Texas in my own little world
Posts: 21,691
Feb 27th 2009, 12:19 am
#23
Just Joined
Joined: Feb 2009
Location: Connecticut
Posts: 4
Re: health insurance small business
You can also look into the plans offered through your local Chamber of Commerce. Some of those use the Chamber Members to create a sizable group insurance plan.
I run a small business in Connecticut (capital Hartford - the insurance center) our insurance rules are a bit different from the rest of the country...
Head, feet, eyes and teeth may not be covered!
I run a small business in Connecticut (capital Hartford - the insurance center) our insurance rules are a bit different from the rest of the country...
Head, feet, eyes and teeth may not be covered!
