Health Insurance Information :Big Health Cost’s For Small Businesses

Author: admin, May 19th, 2010

Pricey Insurance Cost’s For Small Business Owners
 
 
One of the biggest problems for small businesses is the cost of small business health insurance as the prices keep soaring through the roof! This is a problem for small business because it means they struggle

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Pricey Insurance Cost’s For Small Business Owners

 

 

One of the biggest problems for small businesses is the cost of small business health insurance as the prices keep soaring through the roof! This is a problem for small business because it means they struggle to expand there empire because they just can’t afford the small business health care insurance prices being offered to them for insurance. With this problem owners are faced with the prospect of having to pay off workers instead of hiring more.

Small businesses are already at a disadvantage compared to bigger businesses because they don’t have as much money and can’t get the opportunity to expand there company due to the costs of insurance, the less workers the owner can get in means the more work he/she has to take on.

According to The Wall Street Journal, the proposed health bill says small firms with payrolls above 0,000 will contribute 72.5 percent of premium costs for single coverage and 65 percent of premiums for family coverage (regarding full-time employees). Small firms that fail to do so would face a penalty of 2% – 8% tax depending on how much your total payroll. Surely this would put any small company out of business if they can’t meet the required demands.

On the bigger picture and more realistic view the fact is if you are a small business owner and aren’t making bags of money there’s slim chances of you being able to afford insurance so that pretty much means you will have less workers  and there for extremely less cash than your bigger opposition.

So really if you don’t think you will be able to achieve this you’ve got to ask yourself is this really the right career path for you and are you confident enough that you will be able to meet the required targets.

 

 

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Categories: Health Insurance Information Tags: Business News, Health Insurance Opinion, Health News, Small Business Health Insurance, Small Business News