October 24, 2007, 12:37 pm
Can you afford health care for your workers?
As the Senate Finance Committee plans to discuss the issue of health insurance for small firms, FSB invites you to sound off on your health care situations here.
Your Answers
From Ed Newman Healthcare costs are are biggest expense outside of wages. Even with the change from a PPO to an HMO this past year, our cost for healthcare insurance is still up 20% this year. My personal experience with the provider is that the money is all going to administrative burden and not to actual healthcare. We are considering an HSA option, but it is quite risky still. I wish there was a better option.
Posted By Ed Newman : October 26, 2007 9:50 pm
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Here at PartnerUp.com, we have a chance to talk to many small businesses and startups on a daily basis. One of the biggest concerns that we hear from small businesses and from people who are thinking about starting a business is the escalating cost of health insurance.
Perhaps the most staggering, and often overlooked, downside of high health insurance costs for small business is the sheer number of would-be entrepreneurs who don't start businesses because they can't afford health insurance if they were to quit their full-time job to start a business.
I'm surprised that someone like the SBA, the NFIB, or some other business group hasn't tried to put together some sort of program that would allow startups and small businesses to pool themselves together to achieve the substantially discounted insurance rates that larger companies pay.