Working with a health plan broker is a wise decision for most business owners. A licensed broker will be able to expertly navigate through the complex and daunting world of health insurance to find the best plan for your company and your employees. A broker can make it easier for you to understand your options, highlight important details, and explain the pros and cons of each type of plan. A broker can also ensure that the plan you choose to implement fits within your budget and meets the needs of your employee population.
Health insurance costs are significant in the majority of companies. In fact, they’re typically the biggest expense after payroll. And with healthcare costs spiraling out of control, premiums continue to increase, having a profound effect on the bottom line. As a result, many companies look around for a better plan with lower premiums.
A health insurance plan is an enormous expense for most businesses; in fact, it’s often the second-largest expense an employer faces, ranking only after salaries. Given this, it’s important for business owners to keep tabs on the costs of their health plans. There’s another good reason to keep an eye on your health insurance plan, though: it could actually increase the value of your business.
For many companies, health insurance is a big expenditure—it’s often second only to salary on company P&Ls, no matter the size of the business. Given that, it might seem counterintuitive to suggest that health insurance can actually increase the value of your business—but it’s true. Here’s how health insurance can help you make your company worth more.
Most employers want to offer their employees health insurance, but with out-of-control healthcare costs and tight budgets, offering health benefits often isn’t financially feasible. Luckily, fully funded health insurance plans aren’t your only option.
When you use an insurance carrier to offer your employees a traditional, fully funded health insurance plan, you are forced to pay significantly high costs for the benefits that you offer your employees.
Many business owners experience double digit health insurance increases every year with no visible means of reducing their second largest business expense. However, there is such a thing as affordable health insurance that is easy to manage and maintain. It’s possible to offer health insurance without hurting your bottom line.