Why Small Businesses Cannot Afford to Go Without Health Insurance and Other Employee Benefits

Aug. 9, 2012 - PRLog -- Visit http://www.trustedadvisorsolution.com

Los Angeles, CA — One needn’t look far for information on business health insurance.  The internet is abundant with advice and free quotes. The question Rudy Garcia asks is this: are businesses getting a comprehensive solution that saves them time and money.  Does it improve their tax liabilities, reduce workers compensation premiums, reduce turnover, and enhance the productivity of their workforce?   Does it provide resources to a small business that they sorely need?  And if the current environment provides any clues, the answer is “no” it definitely is not.

It takes care, time and patience to put together a winning strategy for a small business.  Small business owners and employees wear many hats and need options that fit a streamlined budget, simplify their workload and improve their profits.  Most brokers throw cookie cutter solution at small businesses out of sheer laziness and to make a quick buck.  These are not solutions at all.  A real solution takes into account the business, the owner, the employees and then takes the complexities of insurance and benefit products and makes them easy to understand and follow.

Rudy R Garcia, a 17 year veteran in health insurance and employee benefits reveals,  “There are five key areas that businesses miss the boat with their employee benefit solutions.”

Benefit solutions have gaps in them preventing employers from gaining the 3 to 4 times return on investment that other well informed businesses are enjoying.

Insurance and other products are set to renew at times that prevent employers from easily figuring cost increases into their annual budgeting.

Employers are missing value added products that are offered free or for a nominal admin fee that put their benefit package on par with larger businesses.

Businesses do not know how the 2014 health care reform mandates will affect them based on their current health insurance package or lack thereof.

Businesses, especially smaller employers with 100 or fewer employees tend to have little or no ongoing relationship with an insurance agent to keep them in the know and connected to the best possible solution at any given time.

Rudy asserts that employers that incorporate complete employee benefit solutions reap returns on their health care dollar investment that exceeds what they spend.  Even employers that avoid employee benefits altogether end up spending more than those that have comprehensive employee benefit packages.

A comprehensive employee benefits solution would include most, if not all, of the following:

Two or more Medical Carriers with a mix of 3 or more HMO and PPO options
Dental Options that include discount, HMO and EPO/PPO/POS options
Vision Hardware Options that included discount and at least one buy-up option
Short & Long Term Disability (STD & LTD)
Supplemental Indemnity Options (AFLAC)
Long Term Care Option
Employee Perks - Social & Entertainment Discounts
Group Life Insurance
Employee Assistance Program (EAP)
Wellness Program
Flexible Spending Account (FSA), Health Spending Account (HRA) or Health Savings Account (HSA)

Since most of these benefits are either completely voluntary (employee elects to pay full cost through payroll deduction), the employer really only incurs costs for whatever percentage of medical (minimum 50%) they pay as well as other options that are fully funded by the employer (Life Insurance, EAP and any set up and admin fees).  

These costs are offset by increased productivity, attraction of great new employees, lower turnover, reduced payroll taxes and lower workers compensation premiums.  In addition, employers with complete benefit solutions experience less absenteeism and presenteeism, reduce disability claims and have employee that interact with customers at a higher level.

Rudy offers complimentary evaluations and consultations for employers in the following categories:

Businesses that have feared entering the employee benefit market but want to see what options exist that their budget could handle
Businesses that need to have their current solution evaluated and possibly revamped
Businesses that do not have, cannot reach and/or have not heard from their health insurance agent and need a new agent relationship

Most small businesses do not know that they experience no additional cost in their insurance premiums to work with an insurance agent.  In most cases, insurance brokers can bring significant savings in both time and money to employers.  Prices are the same for small businesses that utilize the assistance of an agent.  Larger businesses negotiate into their premiums what an agent will be paid or they pay a consulting fee.

Visit www.trustedadvisorsolution.com to learn more and request your complimentary evaluation.

For media inquiries, to arrange for an interview or an expert quote please contact Rudy Garcia, at 818-293-5139.

Rudy R Garcia is a trusted authority in the health insurance and employee benefits industry. Rudy has been recognized by several businesses and individuals for his expert consultation and guidance.  He is a licensed life and health agent in the State of California. Garcia Trusted Advisor Consulting Solutions is headquartered in Los Angeles, California and has access to all health insurance and related employee benefit insurance companies and a combined experience of over 17 years working with large and small employers as well as individuals: children, adults, families, sole proprietors and seniors.