The news channels are flooded with updates on the trials and tribulations of the Affordable Care Act's website and accompanying registration process. Politics aside, the implementation of this piece of legislation could mean big changes and larger financial challenges for your health benefits plan.
Most small business owners today are able to provide some form of health insurance coverage for their employees through large commercial healthcare plans. However, with the Affordable Care Act, these plans will come at a cost for business owners. In fact, Ohio businesses are expected to see a 71% increase in these premiums.
These high increases may force you to reduce or eliminate the health benefits you are able to extend to your employees, forcing them to buy insurance from the government’s healthcare marketplace.
With the waters of healthcare becoming murkier every day, employers and employees abdicate many of the cost-auditing responsibilities regarding their healthcare to their insurance company. Unfortunately, placing this level of trust in your company’s health insurance carrier leaves the proverbial fox to mind the hen house.
Those who purchase health coverage through a commercial provider mistakenly believe their insurance company is actively advocating for them and monitoring the costs incurred for healthcare services. While this is far from the case, the shocking part of this reality is that the insurance companies are forcing you to pay more than you should for your company's coverage.
In 2014, small group health insurance premiums in Ohio are expected to increase by 71%. As a business owner, you know that healthcare is already a significant expense, and increases like this are likely keeping you awake at night, wondering how you can keep employees insured AND pay the bills.
Fortunately, you can start sleeping better again, because Group Management Services has a completely unique and customizable solution that enables you to provide the coverage your group needs while limiting your expenses and business risks associated with healthcare coverage.
To give you an idea about how GMS can do this, let’s first take a look at how small and medium-sized businesses are covered today: fully insured plans.
HR functions can take a lot of time. For small business owners, that time could be better used in better ways—like growing your business and making more sales.
GMS is committed to saving you time and money on your HR functions, including Payroll, Benefits, Risk Management, and more. In support of this commitment, we’re happy to announce that we have just launched a brand new educational resources section on our website.
If you've browsed through our site, you've probably seen our tagline: "Employee Management Made Simpler. Safer. Stronger."
As a Professional Employer Organization (PEO), we live up to this goal by removing your burden of keeping up with ever-changing HR regulations. We centralize HR functions for owners and employees with our HR Pyramid business software (simpler). We educate our customers on how new laws will impact their business. We provide high-quality customer support. And in the end, our clients spend less time worrying about whether they are implementing compliant HR practices (safer) and more time growing their bottom line (stronger).
When you think "sexy," you don’t automatically think "HR."
I’m not talking about the kind of sexiness of the first time I held my wife’s hand. I’m talking about business sexy— what makes a company interesting and what makes an industry intriguing. What gets people excited.
GMS is proud to have received a 2013 Leading EDGE Award for Value Creation in Northeast Ohio.
GMS is thrilled to announce that Stacey Edelman is a 2013 Ohio Glass Ceiling Award winner!
What if I told you that you can accomplish all of your HR goals?
You can. You just need to form a few good habits.
Check out my guest blog post on Easy Small Business HR. In it, I explore the ways to make success a habit. Your HR successes help you -- and your business -- succeed.