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Finding Cheap Health Insurance

Dec 24, 2007
With unemployment rates at an all time low in many parts of the country, small business owners must do more than ever to attract quality employees to work for them. If you are finding it difficult to find that diamond in the rough of applications, it might be time to take a look at what you are offering. While salary matters, more and more employees are placing a high degree of concern on what benefits a company has to offer.

This is particularly important where health care coverage is concerned. With more Americans than ever advocating a switch to a socialized health care platform, there is an increased need for companies to provide low cost, quality health insurance in order to attract employees. In todays climate, the small business owner who fails to provide quality coverage will struggle to obtain and maintain a roster of good employees.

In order to obtain the cheapest and most effective health insurance, you will want to find group health insurance that your employees can sign up for. While these rates will not be as good as they would be if your were bringing a larger group of people to the table, they will be what you have to deal with and it may pay for itself in its attractiveness to potential workers.

Of course, you can even play around with your hiring salary rates, lowering them to make up for the costs of providing the health insurance. This of course, depends upon whether you were offering competitive salaries in the first place. There are also some steps you can take to lower the cost of health insurance. A no smoking policy and random drug testing may be slight deterrents to employees but they will affect your insurance rates dramatically.

One way you can improve your chances for cheaper health insurance is to sign your employees to a larger company. This will in effect make your employees contracted workers. This will take some explaining to your employees but it can be a great way to put them in a much larger client pool, thus reducing the costs of health insurance. It will also affect your taxes and those of your employees, so make sure they understand what they are signing up for and alleviate any concerns they might have.

An insurance broker can help you figure out what insurance plan would be right for your company if all of this seems a bit overwhelming to you. What you lose in having to pay a broker you will make up for in the assurance that you have chosen the plan and the company that will be best for your small business needs. In addition to this, do not hesitate to bring your existing employees in on the discussion. Find out what they, as a group, consider the most important aspects of a health insurance policy. This can help you determine what programs you need to offer and what benefits are doing you no good whatsoever.

Health insurance and related benefits are a must for the competitive small business owner. It is getting to the point where those companies that d not offer at least a rudimentary plan will have trouble attracting even the worst employees. You do not want to fall into this category. Research, bite the bullet and sign your employees up for the best health insurance you can afford.
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Obinna Heche. Los Angeles - California

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