There is a common challenge for small businesses - how we provide health benefits without breaking the bank? contribution As small businesses to strategize how to provide health benefits, an increasingly popular approach is defined.
Last week I wrote an article featured on Synnovatia.com that helps small business owners understand how the defined contribution health is a solution to the enigma small business health insurance
Article Highlights -. solve the Small business health insurance Conundrum
With a health plan's defined contribution company gives employees an allowance to use on individual health insurance, instead of contributing to group health insurance policy.
As mentioned in the article, defined contribution is taking off with small businesses as it offers a model of affordable health benefits which the company, not the insurance company, control cost. In addition, he is an official, non-taxable health benefits program that gives employees access to quality health insurance
As a company evaluates a defined contribution and individual program health insurance, the article presents four tips .:
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Deciding on a taxable vs. tax free contribution
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Understanding the rules and reforms
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Use a refund of software self-service online
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do not skip employee training
To read the full article on Synnovatia here.
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