Health Insurance

rino1494

What do you guys do for health insurance and do you provide benefits to employees ?

Right now my dad pays for my health insurance, but the costs for small businesses is outrageous that he can't afford to offer it to other employees. The cost is over $400 a month for each person. Last year my dad spent for himself, my mom and me over $19,000 just in health insurance.

__________________
Life is hard. It is harder when you are stupid

Uncle Sam wants YOU....to speak ENGLISH

all vinyl

try this thred from earlyer today Health Insurance i think it's back on page 3 today . I no the prices are crazy but thier is an nother idea check it out

denick

rino,

For our business, my family, employee's a 28 year old married no children and a single 25 year old $25,600. a year. We just got our renewal package my wife said with approximately a 5% increase this next year. This is Blue Cross / Blue Shield full coverage $20.00 deductible and prescription.

We are thinking at looking at the high deductible health savings plan policies. They don't give you the same type of coverage though.

Age of employees is everything. We no longer pay for family coverage only the employee and they have the option of paying the additional cost of the family. We had an employee who was 62 years old an a smoker. His cost was $14,400 a year. A 20 year old single male non smoking is under $2,300. a year.

__________________
Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

rino1494

Link ???

__________________
Life is hard. It is harder when you are stupid

Uncle Sam wants YOU....to speak ENGLISH

tgeb

I think Vinyl was referring to this post Rino,

http://www.contractortalk.com/f49/health-insurance-18986/

Talks about Medical savings accounts.

We might be going the way of the Medical savings account, Our current policy for the family is a little more than 400/month. We were quoted about 300/month for the MSA, not sure if its worth it since the out of pocket is more w/the MSA.

Big difference is w/the MSA you can draw out of the savings for things like prescriptions, vision or dental and pay w/tax free money.

But I also see it as another paperwork PIA.

As far as offering health benefits to employees, I checked into it and it's just too expensive for a company of my size. I do give my lead guy a monthly bonus of $150 that he can do as he wishes towards his own insurance, but his wife is working now and she has some health beni's from her employer. But he gets the bonus regardless.

We are very blessed and a healthy family, I don't know how people with medical issues can stand dealing with the insurance companies. My wife has spent hours navigating the phone systems of Blue Cross just to get routine claims paid. She is not a big fan of insurance companies! I see them as a necessary evil.

__________________
Tom

www.gebcon.com