New health insurance plan for small business with the state.?

Question

State of TN helps small businesses with health insurance plans for employees. The employer pays 1/3, state pays 1/3, employee pays rest.

Answer 1

What is the question?

I assume that you're asking "which plan is best?" Or are you asking how to do it?

When you go into business, a good insurance agent (perhaps one for each specialty) is invaluable. The best news is that you don't pay them until you buy from them!!! If you don't view your agent(s) as part of your "team" then you're missing a huge source of good info (or don't trust the agent, which is your clue to fire them).

There is no free lunch... the more you want, the more it costs. I'd personally investigate self-insurance the little stuff, then offering a major medical plan w/ a high dedictible for the big stuff. That's what I do (lesser plan, bigger out of pocket, for cost savings).

The only difference between companies is basically the level of service. Some companies are really horrible at claims, plan changes, premium collection, etc.

Finally, health insurance varies widely (and wildly!) from state to state. Be thankful you don't live in New Jersey..... So, any specific advice you might get here will need to be specific to TN.

Good luck y'all....

Answer 2

Just leave it to employees.
Try to improve your business and give some % of your profits
to your employees.
At the end of the day cent percent of your employed staff do not need
Health Insurance.
It is not easy to get health Insurance expenses reimbursed by the health insurance company's.
Why spend when there are no returns to your money.