Saving on Group Health Insurance Kelso WA
Title: Financial Advisor
Company: Independent Financial Group, LLC
Investment Advisor Rep: Yes
Columbia Basin College
The American College
The Academy of Financial Management
Years Experience: 24
Health Care Insurance,Retirement Planning,Long-Term Health Care Planning,Retirement Income Distribution Planning,401k Rollover From Employer,Wealth Management,Annuities,Alternative Asset Class Planning,Estate Tax Planning,Fee-Only Comprehensive Financial Planning,Mortgage Refinancing,CD Alternative,Life Insurance,Investment & Portfolio Management,Business Succession & Liquidation Planning,Asset Protection Strategies & Planning,IRA, 401k, Roth IRA, QDRO Rollovers
Bainbridge Island, WA
Company: Senior Financial Consultants, Inc
Stock Market Alternative,Wealth Management,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicaid,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accum
Maple Valley, WA
Saving on Group Health Insurance
Saving on Group Health Insurance
Group health insurance costs seem to be rising at alarming rates. Unfortunately, the biggest increases tend to be targeted at smaller companies. What can we do to counter-act this trend?
As a small business owner, this is of primary importance. The rising cost of health insurance is widely understood to be one of the biggest concerns for smaller companies. It is an important incentive to keep good employees. But what can a small employer do when the cost of health insurance is so high that it makes more business sense to cut benefit's?
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First of all, don't panic. And don't automatically assume that you must pass through crippling rate hikes to your employees either. If you have a health plan and need to save more, or would like to offer one to your employees and don't currently, we have 3 tips to help you find a quality insurance plan at a reasonable rate.
- Always compare quotes and benefit's from more than one insurance company.
Just because your favorite cousin is an insurance agent for XYZ insurance, doesn't mean that you'll get the best deal. Shop around! Do some research on the Internet. In fact, the most convenient way to get the best overview of your options is to get multiple quotes from the Internet, as well as speak with qualified insurance brokers in your area. This will give you a good idea of the kinds of coverage and costs that you are looking at. Whether you work with an agent online, in person or by phone, be sure that this person is licensed in your state.
By looking carefully at what the plans offer, and comparing that with what your employees want and need, you can match the best plan to your business, while also saving some money on extras that are not high priority.
- Consider a high-deductible plan, to save more.
Okay, so you want to offer insurance, but you can't afford a plan with low deductibles? Get a high deductible plan. If your employees are healthy and make few visit's to the doctor, this may work to everyones advantage. You can save money and still provide coverage for your workforce. Although everyone will face a higher deductible, they will still have coverage in the case of serious or catastrophic illness, which is much better than no coverage at all.
- Be sure to take advantage of all tax incentives.
There are tax benefit's available to you, as the employer, when you provide group health insurance. These tax benefit's can help defray the costs of insurance and may even allow you to carry a higher level of coverage for your workforce. For instance, yo...
Washington State Mandated Health Insurance Coverage
Medical insurance benefits that insurers must provide include: acupuncturist, AIDS/HIV testing/vaccine, alcohol/substance abuse, anti-psychotic drugs, audiologist, birthing center/midwife, breast reconstruction, cervical cancer/HPV screening, chiropodist, chiropractor, cleft lip and palate, colorectal cancer screeing, contraceptives, dental anesthesia, dentist, denturist, dependent coverage (including newborns, adopted children, dependent students/adults, disabled dependent adults, domestic partners, civil unions), diabetes self-management and supplies, emergency room service, facility (public or other), home health care, hospice care, HPV vaccine, licensed health professional, mammography, massage therapist, maternity (including minimum stay), mental health, naturopath, neurodevelopment therapy, nurse (including midwife, practitioner, anesthetist), off-label drug use, optometrist, orally administered anticancer medication, osteopath (D.O.), physical therapist, physician assistant, PKU/metabolic disorder, podiatrist, port wine stain elimination, prescription drugs, prostate cancer screening, psychologist, second surgical opinion, speech therapist, TMJ disorder