Tip #348- How Can Small Businesses Win Employees?

One-third of companies with from 10-24 employees do not offer health insurance coverage. The number jumps to more than 60% for those with < 10 employees. (See chart at Figure 2.3 of the Kaiser Employer Survey here.)

Overwhelmingly, the reason given for not offering coverage is cost.

What is that cost? Again, from the Kaiser survey, the premium for single coverage averages  $557/month with (large) employers paying about 82% of that. (Check out those numbers here.)

Here’s good news for many small businesses.

We put a relatively healthy group of 10 through underwriting for a “Level Funded” (aka, self-funded lite) plan and achieved a single premium of $390. Our client can pay 100% of the premium, throw in dental and vision, and still spend less than the Fortune 500 employer.

Having a hard time competing for employees in a tight labor market?

We may be able to help.