Wednesday, April 21, 2010
How to Get a Low Small Business Insurance Quote
|
Power Vegetables In A Drink |
|
If you are looking to insure a brand new business, or increase the level of insurance your already existing business caries, you should be aware of the fact that there are certain steps you can take to make sure that you are offered the lowest rates possible. Before you apply for a small business insurance quote, take the time and spend the money necessary to do the following things. Your investment will result in lower quotes and the money you save on your premiums year after year will make it worthwhile.
1) Protect your business establishment. The business insurance companies love to insure companies that have protected their place of business from fire and theft as well as the can. Installing things like burglar alarms, fire sprinkler systems, deadbolt locks, etc. will make your establishment much safer. In turn, it will make all of the contents within it safer as well. Every respectable insurance company will give low quotes to companies that do this because they really want to insure safe businesses. The odds of a well protected business ever making a claim are small.
2) Stay in good standing. Make sure that your business is in good standing and that its record is a matter of public record. Join your local chamber of commerce and the BBB in order to prove to the insurance companies that you are doing things right. Companies in good standing are much less likely to be sued. The quote you receive will reflect this.
3) Safety classes for your employees. Before getting a quote, find out from the insurance company that you are applying to, what safety courses they give discounts for. Have your employees take them. Not only will this reduce your small business quote, it will also be beneficial to your employees and their own personal safety.
Article Source: http://EzineArticles.com/?expert=Jennifer_Lynn_Hanson
Labels: low small business, small business insurance, small business insurance quote
Follow Us and Share
 |
 |
 |
Business Marketing by Aredconsult
0 Comments
Friday, April 16, 2010
Get Cheap Small Business Insurance Plan Online
|
Power Vegetables In A Drink |
|
Labels: Cheap Small Business, insurance Plan Online, small business insurance, Small business online
Follow Us and Share
|
|
|
|
Business Marketing by Aredconsult
0 Comments
Saturday, April 10, 2010
Small Business Insurance: Protecting Interests of Small Businesses
|
Power Vegetables In A Drink |
|
Labels: protecting small businesses, protecting your interests, small business insurance
Follow Us and Share
|
|
|
|
Business Marketing by Aredconsult
3 Comments
Wednesday, April 7, 2010
How Small Business Owners Can Cut Their Health Insurance Costs in Half
|
Power Vegetables In A Drink |
|
Small business owners can now take advantage of Health Reimbursement Arrangements, or HRAs, as a way to cut their health insurance expenses in half. As health insurance premiums continue to grow, fewer small businesses are offering group coverage to their employees. For small businesses with healthy employees, establishing HRAs can be a great way to help their employees obtain permanent, portable individual health insurance at a much lower cost than conventional group coverage.
What is a Health Reimbursement Arrangement?
A Health Reimbursement Arrangement, or HRA, is simply an agreement by an employer to reimburse the employee for their health insurance premiums and other specified medical expenses. This is considered to be a tax-free fringe benefit for the employee.
Because family and individual health insurance plans are underwritten (meaning that the insurance company has the option of excluding a condition or declining an application all together), they are much less expensive than are group plans. In fact, they typically cost less than half as much.
HRAs are also known as Section 105 plans, named after the section in the U.S. Tax Code that governs them.
How Health Reimbursement Arrangements Work
In today's business climate employees are quick to go elsewhere if they see a better opportunity. Providing good benefits is essential to retaining the best employees, but group health insurance can be too expensive for some small business owners.
An HRA allows you to reimburse your employees for their individual health insurance expenses, taking you out of the middle. Employees carry their own private coverage which is totally portable and not tied down to their employment.
You no longer have to administer the plan, and you no longer have to shop it every year. When employees carry their own private coverage, there are also no COBRA issues to deal with when employment terminates.
When you establish an HRA for your employees, you define what expenses that you will be reimbursing, and how much you will reimburse. For example, you may say that you will reimburse up to $300/month for covered health insurance and medical expenses. If the employee uses less than that, any excess credit accumulates for future disbursement.
When the employee has a qualified medical expense, they would submit it to you for reimbursement, up to the amount of their HRA balance. You then simply cut a check for the amount of the reimbursement. It's that simple. You count it as a business expense, and your employee pays no taxes on that reimbursement.
Keeping Your Employees Healthy
Most of your employees will incur medical expenses every year, including dental expenses and eye glass expenses. Through an HRA you can reimburse your employees for these expenses with tax-free dollars.
The best businesses are about more than just selling widgets and making money. The more the business cares about the employees and the more the employees care about the business - the more fun we have and the more successful we are. So why not reimburse for preventive benefits like smoking cessation programs, weight loss programs, or even just annual physicals.
The great thing about HRAs is that you are the architect. You get to decide what expenses you will reimburse. You also have the right to exclude part time employees, employees who have worked for you for less than three years, and those under age 25.
How to Establish Your HRAs
When you establish an HRA, all you have to do is furnish a Summary Plan Description to all plan participants. The Summary Plan Description simply describes who is eligible, and the benefit limits that can be reimbursed. For instance, it may list the minimum number of hours they must work, their minimum age, and the number of months they must be employed. It will list the benefit limit for reimbursement of health insurance premiums, out-of-pocket expenses, term life premiums, and possibly other expenses. You must also keep a Plan Document in your files, which documents the same information.
A Better System for Employer and Employee
If you have a small business of healthy employees, an HRA may be a no-brainer. Keep in mind that because your employees will be applying for individual health insurance coverage instead of group coverage, their premiums will be much lower but the plans will each be individually underwritten.
Your employees will each get to choose the insurance plan and deductible that best fits their individual needs. Many are choosing Health Savings Accounts as a way to further reduce their health insurance costs. Once everyone is approved they will have permanent coverage that is not tied down to their employment. And you can get out of the insurance business, for good.
ABOUT THE AUTHOR :
By Wiley Long – President of HSA for America (http://www.health--savings--accounts.com ) - The nation's leading online health insurance firm specializing in individual and family HSA health insurance coverage.
Labels: insurance costs, small business health insurance, small business insurance
Follow Us and Share
|
|
|
|
Business Marketing by Aredconsult
0 Comments
Monday, March 15, 2010
Small Business Insurance - You Need To Protect Yourself
|
Power Vegetables In A Drink |
|
Labels: Business Insurance, Business Solution, small business insurance
Follow Us and Share
|
|
|
|
Business Marketing by Aredconsult
0 Comments
Sunday, March 14, 2010
Hello world!
|
Power Vegetables In A Drink |
|
Labels: business insurance small, insurance for small business, small business health insurance, small business insurance, small business insurance health, small business liability insurance
Follow Us and Share
|
|
|
|
Business Marketing by Aredconsult
0 Comments
Subscribe to Posts [Atom]
