Benefits that fit.

When it comes to providing benefits for your employees, making the right decision may be impossible, because there may not be one right decision. Individuals have different needs than a family. Financial means also weighs heavily into the picture. Choice and providers cause business owners to really have to fight to balance the needs of the employees and the the financial constraints of the business.

In my experience, group health insurance decisions are often times made based on the preferences and preconceptions of the business owner or executive. When I ask, why do you have this particular policy often the answer is "because that is what I wanted." If I ask again, why did you want that particular policy the answer is generally "because that is what we have always had."

A recent survey by the National Association of Insurance Commissioners uncovered a knowledge gap when it comes to finding and providing health insurance to employees. Many times business owners have people in the chain of command that are responsible for making decisions on benefits for the company that do not have an intimate knowledge of the inner workings of a health plan. This can be dangerous and expensive. Proper due diligence must be exercised to procure and implement appropriate benefits for you and your employees. If you do not have functional expertise on your staff, you should definitely be careful and ask questions. For the sake of your company you should ask tough questions and lots of them concerning the coverage. It is so expensive, it must meet the needs that you have and nothing more.

Finding the right plan(s) can be much less risky and gut wrenching by employing the expertise of a Professional Employer Organization. Using a co-employment strategy can assure that the people making the recommendations on plan design share in the consequences of overuse or under effectiveness. You probably did not go into business to be an employer, but rather to promote a great idea, service or product. Business schools should have a warning label like medicines. WARNING A SUCCESSFUL BUSINESS CAN HAVE SERIOUS SIDE EFFECTS INCLUDING: EMPLOYMENT OF LARGE NUMBERS OF HUMANS, EXCESSIVE AND INVOLUNTARY GOVERNMENT INTERACTION, EXTREME DIFFICULTY SWALLOWING (fees and charges associated with being and employer) and INSOMNIA. Owning a small business is no laughing matter. The sheer number of hurdles that are placed in the path of entrepreneurs on daily basis are mind boggling. Do yourself a favor, get some help!

We all have a stake in controlling the cost of health care. Make sure your employees use the plan as it was intended and we will all pay less in the long run.

To read the full article reference in this posting visit http://www.naic.org/Releases/2009_docs/small_business_iq_survey.htm

Have a winning day!

Steve