Finding health care for your employees

I would recommend that if you are looking for health insurance for employees, contact a local financial planner. They most likely will know who is a reputable broker or multi-line licensed health insurance person. I do not recommend NASE, the National Association for the Self Employed. I am a licensed health and life insurance multi-line agent who has previously worked with the NASE. They can only sell you MEGA Life and Health and no other options. MEGA’s programs are pretty risky with 3 deductibles per year per person. I am not comfortable selling this product. Additionally, you MUST purchase a membership to the NASE to receive MEGA insurance. It is all a marketing ploy. Contact a local financial planner or company that does so, they can lead you in the right direction.

Comment

There isn’t better health insurance than prevention. Problem is that prevention is a matter of conscience.

We need to change our habits about what, how, and if we eat, drink, sleep, exercise, etc.

Although, I agree that the government should not be responsible for the people’s bad health care decisions and habits, I believe the government should provide some form of basic health insurance to all citizens, like it provides free education.

Appropriate health care is a human right. Javier workonline.

Comment

Small businesses can take a look at professional employer organizations, or PEOs, which provide health care plans for multiple businesses working with major carriers. PEOs achieve an economy of scale and efficiency in offering these plans and may offer a cost savings for their clients. Please visit the Web site of the National Association of Professional Employer Organizations, http://www.napeo.org, for more information.

Comment

I agree. Do the Math!! HSAs save premiums many times 20%-50% lower cost than trational CO-Pay or HMO plans. And dont forget the TAX SAVINGS. Your employees can save FICA and INCOME taxes on all claims they have. This might be 20-45% depending on your State and Fed Tax Rate.

Some in the media and un-informed consumers have said this tax savings only helps the rich and healthy. I beg to differ. Higher income earners save much less as a % of their income than a lower income earners who save 25%+ on their claims. This 25% savings on their claims ends up being a larger % of their total income than a higher income person.

HSAs bring some discipline savings to these lower income people who need to have money around to pay those claims when they do come. Traditional plans still have much out of pocket costs for people who end up having claims. And guess what…you still need to come up with $2k-$3k AFTER TAX when you have a large claim on a typical Co-pay or HMO plan. Most people do not save for their deductible and coinsurance exposure just in case they might need it. HSA participants are helped with this savings and disciplined and have the money in their account when/if there is a large claim.

Regan Turner
http://www.HSAspecialists.com

Comment

Buying Health Insurance for your company or even if your self employed. Comes down to a few basics, first figure out how long you will need this plan? If you are 45 and are self employed, you will generally need a plan for the next 20years. Then take out the old calculator, and do some basic math. Just punch in the annual premium for each plan and account for the max. out of pocket of that plan (the most you will pay if you end up with a 1million dollar hospital bill). That number represents the most you will pay out in a “What if” situation. So if the premium is 120. per month annually the payout will be 1440. and lets say the max. out of pocket is 3500. the max monies I could spend would be 4940. or roughly $5000. in one calendar year. The smart person will open a HSA account and stick money in this account 2900 in 2008(Individual) and 5800 (Family).

Insurance is about Mathematics, and Plan designs (what it covers and does not cover). I would say consult a Health Insurance Professional who has Mathematical or Statistical experience, I have staff that has Harvard Degrees for those large case’s.

Rudy Lehder Rivas
President
HSAInside

Comment