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Health Insurance Costs For Small Businesses Question & Answers

2015 February 13
by Sarah Fields

Daniel asks…

If a person opens a daycare, can they get health insurance, if so how much would it cost?

I’ve heard of Aflac small business, and i was just curious if they had others, and what would be the best to get, that’s if you could get health insurance like that.

Sarah Fields answers:

There are other insurance agencies besides aflac out there for small businesses. My boyfriend has blue cross for his employees. I know that state farm has a small business policy. I’m not sure about others but i do know that there are a lot of different agencies just depending on your location.

Ken asks…

Someone just unveiled a new plan for universal healthcare: what do you think?

key points of the plan:

–has an “individual mandate,” requiring everyone to have health insurance

–builds on the existing employer-based system of coverage
offers a tax subsidy to small businesses to help them afford the cost of providing coverage to their workers

–individuals and families who are not covered by employers or whose employer-based coverage is inadequate, offer expanded versions of two existing government programs: Medicare, and the health insurance plan currently offered to federal employees. Consumers could choose between either government-run program, but no new federal bureaucracy would be created.

So what do you guys think? please state the reason for your belief.

Thx!
disclosure: the someone is Hillary Clinton.

To pay for the plan, Clinton would eliminate the Bush tax cuts for those making over $250,000

Sarah Fields answers:

I think that the best proposal right now is the one that would give a dollar for dollar tax refund to individuals who have purchased private health insurance.

As of right now there is not enough coverage offered by many employer plans or medicare leaving people without the medical treatment that they need. However, there is no incentive for these individuals to go out and purchase insurance by themselves (for the most part we are talking about people in a low income bracket here). There needs to be a serious reform of the healthcare system in the USA whereby government intervention is severely restricted and the market is allowed to flourish. This will create a number of innovative health insurance products that, when coupled with a reform like tax breaks, will almost certainly provide more coverage than a government run program.

An employer has no incentive to create a quality healthcare scheme if it ends up eating into profits. Mandatory health insurance is a good idea, but only if it creates a financial incentive in someway (tax rebate would do that). So if an employer went above and beyond when picking the healthcare plan they would get a break at tax time.

In the event that the “Clinton” plan does get pushed through and no new federal institution is created then we are looking at an outdated behemoth of an institution having to deal with many more policyholders. The current government healthcare scheme is already overburdened with the number of policyholders that it has, and adding more will just clog the system worse than it already is.

Cut back on the government intervention, create a mandatory health insurance scheme with some sort of financial break, and leave insurance in the hands of the open market… For America nothing else will work..

Helen asks…

Health Insurance for Small Business Owner?

Wanting to know how to find out two things: 1) the best health insurance coverage and 2) for the best and most affordable price. My husband is the sole proprietor of a small business he runs. He’d like to get good health insurance for the two of us but what I’ve looked into has been incredibly expensive for good coverage or cheaper for not-so-good coverage. Someone recently told us to look into becoming incorporated as that may help (I don’t know how though). Any ideas? Thanks in advance.

Sarah Fields answers:

~~There may be better tax advantages by incorporating but it will not affect your premiums. I don’t know what state you live in, but I will give you the number to our insurance agent we use with Costco Insurance. Her name is Lisa and call her at 1-800-611-9057 ext #2206.

We currently have Costco Insurance which is under our business (has to have two people covered) and is through United Healthcare. They are excellent and our premiums for great coverage are very reasonable. It does go by age, so the younger you are the less it costs.preexistingting clause is required. Dental is also available.

Our business is suffering from the bad economy so we are currently working again with her to get us more of a major medical coverage to reduce the premiums, because things are so tight. This girl has gone out of her way to find us a top notch policy at unbelievable rates. It isn’t through Costco anymore, which I loved having their backing, but it is with Blue Shield and it is still a very trustworthy insurance.

She’ll do whatever she can to get you great insurance. We’ve used her for over 6 years now and she is awesome. I hope you live in a state which she can sell in. Good luck!~~

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