What are my options for surviving the health care storm?

When I started my business, I never expected to have to become a benefits specialist.  Like many business owners you are probably frustrated with the increasing costs and confusion regarding health care.  You feel like throwing your hands in the air and crying, “I quit.”  But quitting is not an option…so, what are you supposed to do?

Small businesses stabilize any economy.  The strength of the northwest was the boom of cottage industries that came out of a period of economic challenges.  REI, Starbucks, Tulley’s Coffee, and many more industries sprung out of challenging times. We may be in a similar setting where the economic heat burns off what is not needed and maintains the important aspects of your business. 

The money spent on health care benefits has a significant impact on your bottom line.  The first step towards becoming healthy is to educate your employees that they will have to become part of the solution.  A health care policy that covers “everything” is very expensive. Employees must become wise health care consumers. 

Should I purchase insurance thru the Health Exchanges or my Insurance Broker?

There are so many people giving advice, it is hard to know who to listen to.   Some of the insurance plans on the Health Exchanges have limited access to certain hospitals and health care providers.  

Insurance companies are not certain how to handle the burden of coverage for pre-existing illnesses and behaviors that increase health risks.  While premiums have increased dramatically recently, they will probably increase at the same rate for the next few years. 

Write to your local and federal politicians.  There are issues they can address that will help employees keep unspent health care dollars for future, unpredictable events.   You may get more information on the Political Page on this website.

Are there options for keeping good employees/ part time employees?

Yes, there are options for keeping good employees.  Your insurance agent/broker may not know some of the options to consider. As your community works together, there are creative options that will help you control your health care benefit costs, while providing access to affordable health care. 

Go to the Health Insurance page for options to consider regarding providing benefits to your staff.  These options will not only help you, but help others in the community.  A few examples of how this model helps others includes:

Regular deposits into your bank or credit union with Health Savings Accounts (HSA) and Health Reimbursement Arrangements (HRA) gives them more lending power.

Payment at time of service helps the health care providers that you see.

Minimize the number of people of Medicaid which decreases the tax payer’s burden.

We are a non-profit organization…what should we do?

Many non-profit organizations are feeling the squeeze from the downturned economy.  It will be especially challenging for these groups to know how to address benefits and meeting the Affordable Care Act (ACA) criteria.

Liberty Health Group has suggestions for non-profit groups that may not only help you retain good employees, but reach out to your community at the same time.   The benefit of a crisis is that we are forced to step back and reconsider what works and what does not work.   Health care delivery will be scrutinized with different lenses, since the passage of the ACA.   Many non-profits will probably lay off staff, if they are not able to adjust. 

Liberty Health Group encourages moving to a sustainable model.  If you are relying upon donations and grants, now may be the time to migrate towards a more solid foundation for your organization.