Nov. 2007
A Look at Healthcare Coverage for Small Business
Executive Director of the Legislative Office of the National Association for the Self-Employed Kristie Darien was the guest speaker at a recent meeting of the Prince William Regional Chamber of Commerce Business and Professional Services Business Council. She led an informative and interactive discussion on the topic of health coverage for America’s small businesses.
State of health care for small businesses in America:
- 51 percent do not have health insurance for themselves nor offer it to employees; cost is the most significant barrier.
- 86 percent indicate that health insurance premiums have increased in the past year, with increases averaging 17.3 percent
Become familiar with health plan options:
- The higher the deductible, the lower the premium
- Look for a wellness component for preventative care
- Examine plan’s network of doctors in the area
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Consider defined consumer-directed health plans such as Health Savings Accounts, Flexible Spending Accounts and Health Reimbursement Arrangements.
Tips for cutting health care costs:
- Raise deductibles
- Take advantage of tax breaks
- Search for free or low cost services such as flu shots or health screenings at community wellness days
- Use generics to cut pharmacy costs
- Implement health and wellness strategies for yourself and your employees
Health insurance resources to consider:
- Virginia’s Department of Insurance, 804-371-9741
- Professional and trade associations/organizations
- Online resources, such as www.usafact.org or websites that let users compare insurance plans and rates
