This past year, 2014, saw a shift in the area of small business insurance.
Due to the passing of the Affordable Care Act, some small businesses dropped group coverage completely, while others scaled back their plans, much to the dismay of their employees. Although the latter may sound less drastic, the truth is that the first option might be the best for many businesses, and an option well worth considering.
Ashley Hunter, an insurance broker from Texas, explains the benefits of dropping group insurance this way:
“We explained to them, you probably are going to come out ahead. You will get a stipend and a subsidy, and coverage will be better than what you were going to get with the group plan” (Poughkeepsie Journal)
A study done by the The National Federation of Independent Business Research Foundation in California found that the health insurance tax could jeopardize up to 23,000 jobs in California by 2023, as well as reduce the gross domestic product by $4 billion (Turlock Journal). With small businesses in many states, including Florida, facing a similar shift, the time has come for business owners to decide what type of insurance plans will be best both for the company and for the health and safety of employees.
As a professional with many years of experience in small business insurance, I can help you navigate the murky waters. By looking at the individual needs of your business and your staff, I can help you assess your options and choose what’s best for you and your employees.
To schedule your consultation, please feel free to contact us. I look forward to working with you.
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.
