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In addition to healthcare benefits, there are other benefits which will help you to keep your Talented Employees feel proud of their job and employer.

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Does this help, LUCKIEST

h3. Health Savings Accounts

Created in January 2004 as part of the Medicare prescription reform
law, health savings accounts (HSAs) are sometimes referred to as
medical IRAs. These plans are increasingly popular and, according to a
May 2005 study by American Health Insurance Plans, more than one
million people are now covered under HSA-based health plans.Many
insurance companies, local banks, as well as specialized administrators
offer HSAs, but be advised, the fees charged to run these plans vary
widely. For an online list of the top ten most affordable providers, go
to www.hsafinder.com/07-05_1.shtml

How do they work?
Like IRAs, individuals contribute pre-tax dollars into accounts that
are tied to a wide range of investment vehicles (savings accounts,
mutual funds or, in some cases, stocks). These accounts can accrue
interest and roll over any unused balances to the next year, unlike
standard Section 125 or “cafeteria” medical benefits plans. These funds
can be withdrawn from the HSA at any time, without penalty, to pay for
legitimate medical expenses not typically covered by the insurer, such
as office visit and prescription drug co-payments, vision expenses, and
dental work. To see a list of federally approved expenses, go to
www.irs.gov/pub/irs-pdf/p502.pdf

An important note: HSAs can only be used in conjunction with
health-insurance policies that have steep annual deductibles—between
$1,000 and $5,000 for individuals, or $2,000 and $10,000 for
families—but these plans typically cover 100% of expenses once this
limit has been met.

Lighthouse,

Good call on letting employees choose their coverage. In California there is a provider called CA Choice which will allow the employer to pick a plan they are willing to fully fund and if employees are not happy with it, they can choose their own plan but pay the difference. This program really cuts down on complaints to your HR people. If an employee wants a certain plan they can have it but I find most employees are fine with a HMO plan if they are the ones funding the difference. Most employees have no idea how expensive health insurance really is.

I can also relate to your story about unions. I saved a local firefighters district $300k per year (our tax dollars) on their premiums and actually improved their network but their office copay went up from $5-$10. The union went ballistic and accused me of being unamerican in the wake of 9/11... LOL.. I was fired the next year and they placed their coverage with Aetna direct for $400k more but with $0 office copay. That is what I get for trying to save the fire district some money.

Yes, you can offer benefits to any W2 employees. The good news is that the carriers are now offering different levels of coverage to meet small business's budgets. There are plans like HSA plans that are just catastrophic. Then there are plans with generic only Rx and limited office coverage. Some plans even package dental/vision.
The more benefits that are added to the policy the higher the price goes. Please feel free to go to our web site for quotes and information and I will be in the office tomorrow. You reach us at 877-840-0554 and ask for Don

Concerns,

Thank you for clarifying this.
I asked twice and got no answer from travelmom.

CC08

CorpCons08,

I am currently licensed to write in NY and handful other states such as Florida, CA, TX & a few more. You can find my contact info at http://www.concerns4retirement.com/.

I didn't mention yesterday about the HSA-qualified plans. They seem to be highly endorsed on this forum. There's certainly a niche market for HSA plans, but your main reason for getting HSA qualified health insurance plans should not be tax shelter purposes. Some of my customers are on HSA plans. There're no-fee, more comprehensive and prudent tax shelter financial vehicles than HSA plans if tax shelter is your main concern. There're are prudent safe and guaranteed financial vehicles with automatic tax, creditor and lawsuit immunity. I've written a research paper--which turned out to be more like a thesus paper. The financial & heath care insurance world is increasingly getting intertwined. For example, once you qualify for Medicare, your Medicare part B premium can increase and your Social Security income check can be taxed based on your muni-bond and other modified AGI income. You can minimize this premium increases and taxation by positioning your funds early on. Starting 2010, I believe, non-qualfied funds w/in specialty designed financial policies can have tax-free benefit towards long term care expenses.... Planning early can also lower your reinvestment risk & secure that your funds become as liquid as a cash account w/in safe, guaranteed, tax & legally sheltered environment for as long as you want with an option for prduent life time income. Examples of 'life time income" streams are social security & defined benefit pension plan life time income checks.

To those who've Medicare qualified employees, you can likely benefit from the latest trend in group privatized-Medicare policies. For individuals, I still like the traditional Medicae supp plans for their stable and secure traditional benefits. If you opt out of traditional Medicare supp plan to buy into privatized-Medicare health insurance plan, you have a year to go back into any traditional Medigap plan w/o having to go through underwriting qualification. The "underwriting" with the privatized-Medicare plans are not nearly as strict.

If you have a true independent broker who's research oriented--and not restricted either by non-compete or "compliance" to offer you some of our industry's top providers. If I were you, I would request that such broker would provide me a free and no-obligation workshop and then portfolio analysis. At least once every 2 years, I would have'em review my portfolio to make sure I've a most suitable health care insuance plan to financial portfolio. (Unless you're w/in a guaranteed rate period, most health insurance premiums tend to increase their premium annually. New plan designs for both financial and health care side come out on jregular basis.)

Techie,

The best solution is to work with an insurance broker who knows the area and industry. As a small business their services are usually free to you as they are paid by the insurance carriers they work with. My company provides employee benefit and HR consulting. Depending on which state you are located I could assist or refer you to someone in your area who could help. Feel free to touch base with me at jjeffries@ihradvisors.com or jjeffries@ebg.com.

Hello Techie-

I work for a company called IAB (International Association of Benefits). My company offers insured benefits through a group blanket policy for its members. IAB has been in business since 1982. These are insured benefits. These can be used at any doctor, dentist or hospital. There are also discounted benefits through the Beech Street network. The plans range in price from $69.95 for the entire family up to $273.95. My company is very ideal for small business owners like yourself to offer employee benefits at a very affordable price. For more information, please visit: www.iabweb.com/viglietta

I can be reached at: (845) 427-7100

Thanks and good luck!

Anthony Viglietta