During these scary times it becomes imperative to save your business and your employees money on healthcare, and just finding an adequate health plan for your business is half the battle! When you are a small business owner you may become a bit overwhelmed with the choices that you have when it comes to health insurance plans for your business, but all you really have to know from the get-go is: Does my business need a Fully-Insured Healthcare Policy, or a Self-Funded Healthcare Plan?
The most famous one of the two categories of insurance would be Fully-Insured plans. These types of plans follow a simple path: You pay a premium to an insurance provider and have all insurance liabilities go through them. This arrangement does insulate your business from claims that can cost a lot and might be a little more simple to set-up, but it can cost more than other alternatives—which brings us to our next category: Self-Funded Plans!
Self-Funded plan are usually the other category that businesses fall into having, and 
these are usually cheaper than a fully-insured plan—and I should add: Cheaper while within optimal conditions! If your Self-Funded plan has a lot of claims and high administrative overhead it might be more than a Fully-Insured plan, but in the end a Self-Funded plan usually comes out to be cheaper! There also is another incentive to keep in mind if you are open to having a Self-Funded plan: they are exempt from most state premium taxes!
It is worth it to take a look at both with your insurance agent and see if your business would benefit from either! If you have a smaller business that might fall under the thresholds to get one of these plans there are alternatives as well! Help your business and your employees by having the best insurance plan for your needs, and at the best price!
In today’s constantly changing environment we are starting to see that in business: Cash is king. With businesses closing due to severe economic pressure, we are all starting to see that having a reserve of cash is one of the best things to have today! If you own a business and are feeling the crunch, here are a couple Commercial Insurance-related tips that can help you keep afloat:
might not even be an option! If your business is feeling the money-pinch right now, feel free to give your agent a call to see what kind of money you can save!
It’s hard being a small business owner and keeping your business afloat in the best of times, but right now it’s easy to see that it’s even harder to do during a pandemic! Right now businesses around the country are facing unprecedented risks and uncertainty since we do not know how long this will last! Thankfully there are avenues that a small business owner can take to ensure their business’ survival, and the survival of your employees as well!
requirements in order to do so! Loan payments can be deferred up to a year with limited interest (4% per each loan), but as mentioned before you must obey the requirements—such as maintaining payroll for employees making less than $100K a year!
It’s extremely difficult to see anything good coming out of this pandemic while cooped up at home watching YouTube and Netflix—but if you start to look around you will begin to notice that there are some flowers sprouting out of the cracks in the concrete! If you are an admirer of nature you will love to know that global pollution has plunged to levels not seen in a long time! For example in China, the drop in air pollution is said to have saved up to 77,000 people’s lives since the beginning of their lockdowns this past December—a staggering number to say the least!
example has seen an overall drop of 42% in serious crimes, and has even acknowledged the steep decline in general crime in various press releases since the beginning of the lockdowns! We are also seeing a spike in the amount of births around the world, and with parents everywhere being able to work from home we are also seeing a lot of children being able to spend time with family that wouldn’t have ever happened before!
When getting General Liability think about how your business runs, think about the upsides—and then think about the downsides and what you can do to protect your business them! Once you get General Liability coverage you will need to think about things like “Is my facility likely to have fires/accidents?”, “Would this business go into the red if so-and-so were to get sick?”, if you have thoughts like that you should definitely look into adding extra coverage to your policy!
Better business Bureau ®