San Diego Small Business Solutions
“Running your own small business is great! You get to choose whatever 100 hours per week to work!”
Sound about right?
As hard as it is to stay solvent while running your own business, offering health insurance to employees can seem even more daunting. Small business insurance was already complex enough BEFORE the federal government and the state of California got involved. Navigating all aspects of insurance for over two decades now, Holly Bishop fights to secure the most competitive rates and smartest benefits through both new government insurance exchanges and private carriers. A San Diego small business ourselves, we know how important it is to keep revenues ahead of expenses!
Small Businesses that use an insurance broker pay lower premiums
Because two businesses never have the same needs, Bishop Services works with a wide variety of insurance carriers. We know which provide the best rates and benefits according to business size, budget, employee variation. . .even company values and mission! A San Diego insurance broker with ALL the options, we are happy act as your guide and advocate in the quickly changing insurance climate.
Only 45% of American Small Businesses Offer Health Insurance
Covered California, our state’s version of the federal Affordable Care Act, stands to challenge many small businesses. The good news is that for the businesses strictly mandated to offer health benefits, the government has developed reimbursement plans. This means, for the first time, those companies who have always wanted to offer health care benefits to their employees can finally afford to do so.
More exciting, research has proven that the availability of health care coverage makes for a more efficient, cost-effective company. The Insurance Institutes of America has consistently shown that offering employees health care coverage:
- attracts the most qualified, efficient employees,
- fosters goodwill among employees,
- increases the productivity of your business. Preventative plans keep employees healthy and working. Insured employees see doctors more regularly, staving off serious illness.
- contributes to overall company morale.
Create a more stable and efficient company when, with attractive health benefits, you can finally fight toe to toe with larger companies for the most talented job candidates. We even bet that many of these creative and hard-working individuals will be excited to bail out of the corporate world for a smaller, more intimate, small business work environment. After all, according to a Kaiser Family Foundation study 80% of employees do accept coverage when offered.
Holly Bishop has been following the progress of the Affordable Care Act for years now. We’ve been to the trainings, watched the webinars and pressed government agents for the nitty-gritty details. Fully certified to be your broker for Covered California, we can interpret the fine print, saving you time and energy.
Reduce Employee Turnover with Dental and Vision Plans
Help employees feel more secure and cared for when you offer dental and vision plans along with overall health coverage. While private carriers have a long list of options, Covered California does as well. In fact, Covered California encompasses: preventative and wellness care, ambulance, emergency, hospitalization, maternity and newborn care, mental health, substance abuse disorders, behavioral health treatment, prescriptions drugs, rehabilitative services and devices and laboratory tests.
Does Every San Diego Small Business Have to Offer Health Insurance?
Absolutely not. The Affordable Care Act mandates that only employers with 50 or more full time (or equivalent) employees cover partial health insurance expenses for employees. Those that refuse or fail to submit paperwork in time must pay a penalty. Businesses with less than 50 employees who do not offer health insurance do not fall under the mandate and will NOT have to pay any penalties if they do not offer health insurance. They do not have the “shared responsibility” for health care larger companies do.
Bishop Insurance Services Helps You Keep Profits Growing while Offering Attractive Benefits
Even if you are not “mandated” to offer health insurance, you may decide the time is now.
There are many creative ways, including HSA (health savings accounts), HRA (health reimbursement arrangements) and HDHP (high deductible health plans) options, to keep your costs down and profits growing, even when you offer attractive health benefits to employees. Bishop Insurance Services has studied each and can work to combine them for your situation.
Have a quick question? Never hesitate to call us. As the San Diego insurance agent with ALL the options, private and public, we’re happy to share with you the exciting benefits and cost savings available.
