Small businesses and HR professionals everywhere are now planning for health benefits in 2015. as such, there are five important questions to ask yourself as you begin to plan for the health benefits. Thereby you and your small business help to bring in a prosperous new year and you can save from simple errors.
Question # 1 - Who is the Health Program Cover benefits
to beginning, of the companies offer health benefits, and these "eligible employees" who will participate? Will be offered any benefit (owners, employees and relatives)? Or only certain employees (eg full-time manager)? Have employees already cover spouses or other family members? Would they keep their current coverage if you offered services? Have employees been coverage under an individual health plan? Are they entitled to, and receiving, health insurance tax credits?
As you begin to answer these questions, you will identify two important things:
1) How many employees They offer the advantages to (these effects budget and strategy) and
2) How many of those are (participation participate could affect eligibility for group health insurance. Schedule )
question 2 - What's your health benefits budget
How much can you (or would you like to contribute)? to health benefits? Consider monthly, annual, and long-term budget, as you plan for the health benefits. Each company is different, but knowing your budget allows you to successfully plan for the year. The cost structure of health benefits paid vary according to approach you take
group health insurance .: monthly premiums are usually by both the employer and employee. In most states, employers are required to cover at least 50% of the monthly premium for their employees. This is called a cost-sharing percentage or minimum contribution. Remember what the company can afford, and also what can make the employees increase premiums annually usually
individual health insurance reimbursement (ie health aid): .. the company has reimbursed the amount of contributions and employees for individual health insurance. There is no minimum level of contributions. The plan could provide a flat $ 0 / month for employees, and the employee would cover any remaining amount of their premium. Or could the plan $ 300 / month to the CEO and Manager and / $ 150 month part-time office staff
Question 3 -.? What do employees value Most
Remember to discuss coverage preference with your employees. Do they prefer full coverage at a higher cost? Do they prefer a high deductible plan with a HSA ? Would they prefer to use a health allowance towards an individual health plan of their choice?
Similarly, the types of covered benefits are most important? While federal privacy laws will prevent employees to ask for information about their personal medical history, can you still ask about what kinds of services they consider most valuable.
Even though you may not be able to fulfill all the requirements (set this expectation up front), employee input to your decision be valuable
question # 4 -. Who manage your health benefits of the program
The way you manage your health benefits program a significant impact on both you and your employees. As such, the health benefits manage internally? What is the capacity they have (time, etc.) to manage health benefits?
Smaller companies often do not have a dedicated HR team member have. Rather HR activities are part of a settlement, operations and / or administrative role. If this applies to you, individual insurance reimbursement health may be attractive because it takes / month 5 minute administer
Question # 5 -.? What are your health benefits objectives
Have you set achievable goals, how to plan for the health benefits? Moreover, what is important to you? What is a deal breaker? At the end of the year, making the program a success
setting achievable goals is your small business on the way to success - the achievement of the goals that you set ensure your success. Health benefits are a big deal for you and your employees, so make sure you take the time to ask questions, plan and set goals.
What questions do you have as you plan for the health benefits for the year 2015? Comment below.
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