The Affordable Care Act (aka ACA or "Obamacare") has allowed small businesses to offer health benefits, but nothing about it is simple. Last week, Zane Benefits President and CEO Rick Lindquist wrote an article featured on Entrepreneur.com discussing five tactics to make the purchase easier and more effective health benefits.
Highlights section Entrepreneur.com
Article Highlights - . shopping for health benefits easier
As companies evaluate and shop for health benefits, Lindquist described five tactics to simplify the process and help the company achieve its objectives and the health benefits budget.
1. Understand the value of health benefits
There are measurable benefits to offer benefits to employees' health. T o measure the return on investment, u nderstanding how benefits match your overall strategy for recruitment and retention.
2. Set a budget
Before you start shopping for health benefits, set a budget and evaluate the company's ability to absorb annual fluctuations in costs.
3. Assess requirements ACA
As you shop for health benefits, to assess whether the company is on the hook for the mandate of the employer and employer shared responsibility fee.
4. Evaluate options
The field work is done. Now it's time to evaluate the health benefits options.
5. Determine what type of plan that works best for the company
Depending on how the ACA impacts your business and your health benefits objectives you may find that one type of health benefit outweighs the other.
As concluded Lindquist "[ Small and medium enterprises (SMEs)] face unique challenges in providing health benefits. However, new opportunities in the individual market give new options for SMEs offer employees comprehensive health benefits. forward thinking business owners adopt individual health insurance and a defined contribution model determined the health benefits. "
Read the full article on Entrepreneur.com.
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