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My heart sank a bit when the owner of the tax prep office in my friend circle asked me to come and set up group insurance now that there are enough employees on staff. The owner spoke of spending $350/month for health insurance, which is actually a pretty good deal. All workers + owner are paid under payroll. Saving money for the owner isn't going to happen in the pure dollar to dollar sense. I think we are talking about a super small group, 3-5 employees.
I am thinking of what list of benefits a group coverage program will provide the owner. Employee security and loyalty is one, now that ACA's future is so uncertain. The employer gets tax breaks, but it's still an expense. The owner can get better coverage in terms of wider networks and out of state treatment options under good PPO networks.
Since the employer is a tax pro I will suggest an HSA compatible plan as one option.
Your thoughts?
I am thinking of what list of benefits a group coverage program will provide the owner. Employee security and loyalty is one, now that ACA's future is so uncertain. The employer gets tax breaks, but it's still an expense. The owner can get better coverage in terms of wider networks and out of state treatment options under good PPO networks.
Since the employer is a tax pro I will suggest an HSA compatible plan as one option.
Your thoughts?