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A 6 employee business offering health insurance benefits? If you're doing it out of the kindess of your heart, then that's a noble thing. But you are not required to do so. If anything, you are an anomally and you'd be hard pressed to convince anyone that there are numerous ultra-small businesses not hiring simply because of delayed health insurance reform.
I call BS.
It's a law firm. We will offer many benefits you won't normally find in another type of small business in order to attract and retain good associates. It's common.
Really? I must ask what sort of business are you opening? Are you counting your worker's comp and liability payments in with this number? Because I myself am a small business owner, and I know for a fact general healthcare coverage for 6 people will not run you $50,000.00. I work in a fairly dangerous line of work, not to mention the fact that I have to pay like $13.00 of every hundred I pay an employee to the worker's comp. insurance company. That is where the cost of insurance really adds up. Which is why I asked the question. Are you counting all of your insurance costs together? Because if not, there is no way your insurance should be this high. Someone is obviously trying to rip you off.
A law firm.
The policy we are looking at implementing is going to run about $750 a month per employee, but admittedly that's for a very good policy that has low deductibles and covers things like maternity care and prescription meds. We negotiated it through the ABA rep, otherwise it would have cost more.
As much as it pains me to write the check for this, I can assure you that we will get our money back from the insurance companies and then some.
The policy we are looking at implementing is going to run about $750 a month per employee, but admittedly that's for a very good policy that has low deductibles and covers things like maternity care and prescription meds. We negotiated it through the ABA rep, otherwise it would have cost more.
As much as it pains me to write the check for this, I can assure you that we will get our money back from the insurance companies and then some.
I want to come and work for you! You have obviously taken time and put effort into getting your employees some of the best care money can buy. I applaud your efforts and wish more could do what you are doing.
Well, what I know is that a colleague of mine and I are starting a new business in the Fall. Our health insurance premiums for the two of us and 4 other employees will cost us over $50,000 a year. And that's for relatively young professionals. We were planning to hire another person, but now we won't.
And THAT's the real effect of delaying this legislation.
You have no concrete proof of the rates to be offered under the govt plan for individuals or businesses. Could be NO savings at all.
Welcome to the world of the self employed. At least you'll be able to get an small business rate for health insurance....quite a bit cheaper than an individual being his/own policy.
And remember, on the other side of the coin, many businesses will fire or prevent hiring if the health plan and its 8% payroll tax is initiated.
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