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Small Business Health Insurance There are plenty of compelling reasons to consider buying health

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Small Business Health Insurance There are plenty of compelling reasons to consider buying health Powered By Docstoc
					?There are plenty of compelling reasons to consider buying health coverage for your
business, like employee retention and tax benefits. Besides offering access to
affordable health services, a small business health insurance plan helps spread the
financial risk between all the members, which usually translates into lower premiums
and more coverage for all your employees. And group health insurance has tax
advantages too. Employer contributions to a small business health insurance plan are
generally 100% tax deductible, and employees will also save on their payroll taxes.

However, as a small business owner, finding the right health insurance plan for you
and your employees can be challenging.

Research well. Before you make the decision, look around and gather information on
what kinds of insurance is available. The internet is, of course, a great source of
information. But don't buy an insurance plan just because the company has a great
website. Remember to check the coverage, co-payments and deductibles carefully and
get quotes from different companies to compare them for the value provided.

Seek advice. Another good starting place for finding small business health insurance
is your local Chamber of Commerce. They will be able to point you towards reputable
health insurance plans used by other small businesses in your community. You can
also talk to your family and friends and get references for insurance agencies.

Be prudent. Also be aware that scams that target small businesses trying to save
money on health insurance abound. That is the reason why you should carefully
investigate any insurance company claims that go by the name of "health plans" or
"health discount plans". Remember the old adage - if it sounds too good to be true, it
probably is. Use common sense to avoid the scams and make sure your employees
have the coverage they need when they need it.

Shop around. Before you make the final decision, shop around for the best rates.
Health insurance plans do change periodically. The best deal of today might not be so
one year down the line. Do an annual review of your company's health insurance plan
but make changes only if it benefits both your employees and your business.

Having a reliable health insurance plan will enable you to attract and retain a
high-quality workforce. Keep your employees informed about changes in your
business' health insurance plan before they occur, because that may have serious
implications for the well-being of your employees and his or her family. You could
also involve your employees in the process of choosing the company's health
insurance plan. Finally, let them know the financial costs and conditions associated
with it.
Hi, I'm Akhil Shahani, a serial entrepreneur who wants to help you succeed. If you
like to work smart, check out http://www.SmartEntrepreneur.net . It's full of articles
and resources to help you start and grow your business successfully. Please visit us &
download our special "Freebie of The Month" at
http://www.smartentrepreneur.net/freebie-of-the-month.html

				
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