Healthcare for Entrepreneurs.

When you start your own business, typically you are focused on getting customers, having a product or service to sell, finding office space, getting your corporation documents in order, and so much more. One of the last things on your mind is how to protect yourself for both health and life expenses that often go unattended as you are preparing to set up shop. However, these items play a key role in making sure your company succeeds if something happens to you.

As well, what about employees? When you are hiring staff, one of the most important questions in the process is the discussion about compensation and benefits. To hire and keep quality talent, you need good employee benefits. These days, it's hard enough to get people to work. What do you offer that would make the difference for them to come work for you?

Voluntary benefits allow companies the best way to provide quality coverage without bankrupting the business. Essentially, employees pay for whatever benefit they want at little to no cost to the company, and the expense is passed through as a payroll deduction. This is usually the case for most benefits with the exception of primary health insurance. That product is often subsidized by the employer, and the employee pays a portion of the medical insurance premium. For the voluntary products, you may have a small administrative cost, but at least you are not paying for the products.

Of course, business owners must do proper due diligence, and vendors who are chosen should be vetted to find the best applicable benefits at the best price. Don't sacrifice quality of care for cost. Likewise, however, don't offer benefits that may end up with low participation by employees either due to lack of interest or cost. Your licensed insurance agent can help you with this process and with any enrollment needs.

If you don't already work with an agent, you can network with your peers in your industry to find out who they use and what they are doing to help lower health care costs for their employees. You may be surprised to see what all there is in the market to help you and your employees save money on healthcare. If you don't have someone that you are currently working with, contact me to find out more about affordable benefits.

You can make smart choices about healthcare benefits. Just take some time to do your homework about products and how to best implement them. Call for help. You'll be glad you did. You and your employees need to be happy and stay healthy.