Small business owners weigh many factors when deciding whether to invest in a group health insurance plan, but oftentimes the decision comes down to dollars and cents. The Kaiser Family Foundation’s 2016 Employer Health Benefits Survey notes that the high costs of insurance premiums are the primary reason why firms won’t offer health benefits. Even for business owners who do offer plans, rising insurance premiums can create a lot of stress and confusion, especially if the owner doesn’t know how these premiums are calculated and how they can manage them.
Employers can have many questions for group health providers, and that includes exactly how much they can expect to spend. Here’s a rundown on what the insurance industry uses to calculate your group health insurance coverage premium, as well as some strategies that can lead to lower costs.
It’s always a good idea to get more information. For a small business owner, that extra information can be the difference between finding the right group health coverage for your business.
Even if you have a good grasp on the basics of group health insurance, it doesn’t hurt to ask a provider a few important questions before you purchase a plan for your business. Here are some key things that you should ask a provider about group health insurance coverage.
Managing health insurance for a business can get complex in a hurry, especially if you’ve never dealt with group plans before. When it comes to offering healthcare coverage, you’ll quickly find that not all health insurance plans work the same way.
Instead of getting overwhelmed, it’s a good idea to step back, take a breath, and start with the basics. Let’s go over what you should know about group health insurance before you start offering plans to your employees.
Towards the end of July, the Republican Party made a couple of attempts to repeal and replace the Affordable Care Act. When the Senate couldn’t pull together a consensus on a replacement bill, they moved forward with a straight repeal bill. Both attempts failed.
Where does that leave a business owner who’s trying to figure what to do about healthcare? Two recent articles help shed a little light on what to expect.
One of the largest contributors to mental health problems in the workplace is stress. Not only are mental health issues difficult to recognize, we also cannot assume an employee’s stresses from everyday life are checked at the door when they arrive at work every morning.
Everyday life stresses coupled with the pressures that work brings could be detrimental to both the employee and the business. This can have serious impact on an employee’s overall health and employers must take the appropriate steps to protect both the employees and the business.
Workplace safety oversights can be expensive mistakes for employers. When an injury occurs and a claim is made, the Bureau of Workers’ Compensation (BWC) will come down hard on an offending business if they determine it is at fault. Depending on the situation, employers may also find themselves dealing with a VSSR, another violation that can lead to additional penalties.
It’s common for HR professionals to field questions about compliance and discrimination concerns. One question that some small business owners ask is how LGBT and gender requirements can impact their company. There are many laws and protections in place to prevent discrimination based on gender identity or sexual orientation that employers should know about.
Have you ever heard the expression “what happens in Vegas, stays in Vegas?” Unfortunately, that might not always be true.
In the past year, recreational marijuana became legalized in the great state of Nevada. If you smoke weed and then get drug tested at work the next day, what happened in Vegas may come back to haunt you.
Employee retention is a significant area of focus for most business owners. According to talent management and HR site ERE Media, “78 percent of business leaders rank employee retention as important or urgent,” showing that the average owner wants to avoid losing good talent.
There are many reasons why an unexpected departure can prove problematic for employers. It can disrupt workflow. It can have a negative impact on chemistry. Also, it can cost up to 50 percent of an entry-level employee’s annual salary to find someone to replace your outgoing employee. That’s a pricey goodbye.
Retention is a big issue that many employers want to address before their company turns into a revolving door for talent. Fortunately, Professional Employer Organizations can help your business improve employee retention. Here’s how.
For an industry that serves over 2.5 million people, Professional Employer Organizations can still be a bit of a mystery for the average business owner. The industry has helped businesses manage important HR functions for decades, but one of the most common questions owners ask is “Why have I never heard of PEOs before?”
There are a few reasons for this, starting with the fact that there’s no simple, one-sentence explanation for what PEOs do.