Employee medical coverage

chiselbit

chiselbit

Been here a while
How many of you small companies are providing this for your employees? By small I mean one crew, maybe 2. I’m in California, I’ve been looking into it and it appears a ballpark figure for one 26 year old employee is around $400 per month. I am required to pay at least $100 of that but have been advised to pay more. So to you guys that are doing this, how much are you paying? What percentage of the employee premium do you pay? The employee can add family members at an additional cost that the employee pays, usually deducted out of their paycheck. It seems pretty high to me, that same 26 year old employee can add one child under 14 for around $300 and a wife for around $400. Seems like a big chunk of a paycheck. Is this typical? How do you do it?
 
chiselbit said:
How many of you small companies are providing this for your employees? By small I mean one crew, maybe 2. I’m in California, I’ve been looking into it and it appears a ballpark figure for one 26 year old employee is around $400 per month. I am required to pay at least $100 of that but have been advised to pay more. So to you guys that are doing this, how much are you paying? What percentage of the employee premium do you pay? The employee can add family members at an additional cost that the employee pays, usually deducted out of their paycheck. It seems pretty high to me, that same 26 year old employee can add one child under 14 for around $300 and a wife for around $400. Seems like a big chunk of a paycheck. Is this typical? How do you do it?
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I don't have much, other than the number goes down with the number of employees. I once lost a job because I refused to sign up, and I was the employee# which gave the price break for the group. It was very good insurance, I was 20 at the time and couldn't justify 20% off my paycheck.
 
That’s what I’m wondering about too, will employees want to pay for this. So I guess this thread isn’t directed only at company owners, I’d like to hear from employees that are paying out for coverage thru their job
 
We pay 66% of the health insurance. I don't know the details but our dental is better than my wife's who is a school teacher. Our health insurance is comparable of not better than a co workers wife that works at a hospital as a nurse.
Myself and our staff appreciate the great health and dental. It costs about $6k for the company every month. We are a company of 11 people.


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Honestly...5K per year per employee doesn't sound like a lot of money to keep good help!
That is a LOT cheaper than it would be if you went out to the open market. A LOT.

Ask independent insurance agents, Chamber of Commerce, BBB, other professional associations that you can be a member of if they can include you in a MEWA (Multi-employer Wellness Agreement) where multiple small businesses partner to buy insurance in bulk. Some will have that others will not...

I found a local agency who organizes one, the Ohio Forestry Association partners with the Ohio Farm Bureau to offer that ans the local BBB had advertised it. You'll just have to see what you find there.
 
I have 13 tree crew. We have coverage available. We contribute $250 a month. For the younger guys this is over half the premium cost. We don’t contribute to any added family members but do offer more money to our guys who’s wives work for us in the office side of the company. Some of the young guys don’t want the coverage, that does raise the rates for everyone else. Be careful when you get an estimate cause the insurance rep will quote you as if everyone is signing up but they won’t all sign up. And it will be more expensive than you are quoted.
 
When you say you contribute more to the guys with wives working in the office, do you contribute more to their premium? Or higher wage? I’m assuming you mean towards the premium. Yes, I was told I need 65% of my employees to participate in order to do this.
 
chiselbit said:
When you say you contribute more to the guys with wives working in the office, do you contribute more to their premium? Or higher wage? I’m assuming you mean towards the premium. Yes, I was told I need 65% of my employees to participate in order to do this.
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Whenever possible I provide some tax deductible thing instead of pay. I’d rather pay towards insurance than payroll. I don’t have to pay comp or match taxes on insurance $
 
So I’m getting some good information here, I’m now directing my question to all companies regardless of size, what percentage of your employees premium are you paying? Or are you doing a set amount like canary?
 
The reason we do a set amount like that is because it will be easy to start discriminating based on age. Older people will cost you a lot more to employ if you are paying a percentage instead of a set amount. Are you aware that (at least in my state) there are no requirements by law to contribute? If I had it to do all over again, here’s how I would do it; I would acquire the coverage, without any contribution of my own. 2/3 would still get it cause they need it. Then, after I had my hands wrapped around how difficult it is to manage this aspect of the company and after giving my people some time to see their own money come out for the coverage, I would offer contribution.
 
Yeah, I wondered about that. The older they get the more they cost. After discussion today it appears only one guy wants or needs it. Nobody else wants to pay out because they are young and invincible. I’ve seen how workers comp works in this state, it’s just a scam. They don’t want to actually treat an injured worker, they want to drag him or her thru months of bs trying to disprove their claim. And then it’s subpar doctors and treatment. Point of that is; I think it would be a good idea to have the medical coverage because workers comp is definitely not in your corner but try to convince a bunch of bullet proof 20 year olds. Anyway thanks. I appreciate all the advice and info.
 
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