Getting ready for healthcare reform
- Author Marcus Stalder
- Published February 9, 2011
- Word count 526
There's one inescapable fact. No matter what you think of the politics of the healthcare reform law pushed through by the Democrats, small business has the task of dealing with the reality of the reforms now. Indeed, business owners could well find themselves caught in the middle. On the one hand they are expected to provide additional coverage to their employees. But with the increase in the coverage is likely to come a bigger bill for premiums. You never get something for nothing in the insurance world. So what exactly are businesses expected to deal with? Ignoring the changes to be phased in over the next few years up to 2014 when the entire system is supposed to be up and working, there's a new appeals process, dependent coverage is going up to 26, insurers can no longer refuse coverage for children with pre-existing conditions, and there are new free preventative check-ups.
So how is this likely to work out? Take the question of the free preventative check-ups. The idea is simple. If you identify more health problems in their early stages, treatment is usually effective and you avoid higher, long-term costs. For example, there will be free mammograms for female employees. If a simple surgical procedure removes a small growth, this potentially avoids major surgery with all the lost productivity. Apply this across the range of diseases and disorders that may be caught early and you have major cost savings which will be reflected in lower premiums. But if children with existing conditions are now to be covered or adult children may opt back into their parents' plans until 26, this is likely to drive up premiums.
The problem for employers is how to handle the uncertainty. If there's a choice on whether to recruit new staff, are you now hiring based on whether they look healthy? This is something you should sit down and discuss with your insurance agent. Small business insurance is all about balancing costs. Remember that this is affecting everyone, including your customers and clients. They may also find their premium rates rising, putting pressure on their spending power. You may find your own costs rise and there's pressure from your customers and clients to reduce your prices for goods and services. You may have seen that McDonald's is saying it may drop its health plans if forced to raise the low annual limits. The politics of these threats may work to the advantage of big employers but it hardly help the small business. This makes your agent a particularly important person. You need to get as much information as possible on current trends. Just as important, if you have not already done so, join a small-business group or association. This should give you access to more information. Then get small business insurance quotes from as many companies as possible. Spreading the net wide gives you the best chance of finding the right plan. Then you can plan hiring and your marketing policies on pricing. Getting everything right for the next 12 months is critical. Once we are through this, the trends in policy rates should become more clear and you can make better plans.
If you have found this article interesting you can visit its Marcus Stalder's site [http://www.businessgrowthinsurance.com/health-plans-for-employees.html](http://www.businessgrowthinsurance.com/health-plans-for-employees.html) for more writings. Marcus Stalder has spent years in perfecting his journalist skills and is pleased to share his vision with you.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Out with Fianna Fáil and Fine Gael: 230,000 Irish Children Living in Poverty
- The challenge of Cholera today
- The Ultimate Guide to 3D Animation: From Basics to Advanced Techniques
- Strategic Equipment Financing: Simplifying Capital Investments for Sustainable Growth
- Transform Your Health Journey with Able's Online Weight Loss Counseling
- Are the Crocs' shoes good for your feet?
- Your Ultimate Guide to False Eyelash Types: Find Your Perfect Match!
- Discovering Lighting Stores in Brampton: Spotlight on Fehmilights
- Blue Pacific Financial Loans
- Why is SEO for businesses on the Wirral important
- Proton Mail In Vivaldi Email
- Email Deployment
- Search Engine Marketing: Unleashing Its Power for Your Business
- Squarespace email campaigns vs Mailchimp
- Squarespace email campaigns vs Mailchimp
- Commercial Cleaning Services in Auckland: A Deep Dive into Angel Cleaning
- What is CCTLD?
- Why Women of Color Need to Support Kamala Harris
- Email Extractor from CSV
- How to download Gmail email content into a CSV file.
- Is email marketing legit?
- How SEO Can Improve Your Business?
- Mitsubishi Electric proves heat pump compatibility with microbore pipework
- Polio: Doctors Struggled to Advise the Public Correctly.
- What makes the city of Melbourne such a unique place?
- What is the role of the Royal Society of London?
- Festive Decor with a Global Twist
- Mixer of Styles, The Boho Mid Century Farmhouse
- Explore Cape Town: Group Cape Town Tours With a Private Shuttle
- Exploring Airbnb Cleaning Service in Auckland: History, Trends, and Future Implications