Posts Tagged ‘Business’
What kind of health insurance does a business provide to its employees?
February 18th, 2012
Question by Dica: What kind of health insurance does a business provide to its employees?
Describe the measures they take in hopes to contain the cost of health insurance.
Best answer:
Answer by beepbeepwentthecar
This question is really way to vague to answer. Each company has its own way of determining whether they will offer insurance and the plan they offer. There are too many variables to answer this question with specificity.
Add your own answer in the comments!
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KAFFEA BUSINESS OPPORTUNITIES (P598 ONLY)
February 17th, 2012
KAFFEA BUSINESS OPPORTUNITIES COMBINED INTO 1, FOR AS LOW AS (P598 ONLY) DIRECT SELLING, NETWORKING, TOURISM, E-LOADING, PLUS INCENTIVES; CAR INCENTIVES, HOUSE & LOT INCENTIVES, ACCIDENTAL INSURANCE & PRIVILEGE CARD.
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Atlanta Small Business Employee Benefits and Health Insurance.mp4
February 7th, 2012
www.atlantapayrollservices.com Atlanta Payroll Services offers Georgia Small Business a suite of fortune 500 like employee benefits such as Group Health Insurance, Dental, Life, Disability and 401K at affordable group rates.
Video Rating: 0 / 5
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Crunch time for business interruption insurance
January 15th, 2012
Crunch time for business interruption insurance
For some, the real crunch will come in 39 days' time, on the anniversary of the magnitude 6.3 quake, when their business interruption insurance runs out. In Addington, 23 Recover Canterbury business recovery co-ordinators working in cramped offices are …
Read more on The Press
QUAKE: Haiti in Jamaica
He pointed out that NEM Insurance provided backing for QUAKE: Haiti in Jamaica, as earthquakes are a fact of life for the nationals of the Caribbean Basin, so we need to learn how to mitigate their impact. A detachment from the Jamaica Defence Force …
Read more on Jamaica Gleaner
Woolworths recoups m in quake insurance
Woolworths took a $ 14.8 million hit on the earthquake from costs not covered by its insurance cover, according to the parent company's annual report, published in September. The local holding company, Woolworths New Zealand Group, reported net profit …
Read more on TVNZ
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Why business owners need life insurance and ‘key man’ insurance
January 11th, 2012
Carol Tice
Business owners have unique life insurance needs. Because both their families and their businesses rely on them, they need to make sure their coverage protects both.
For three years, Carol Smithem ran two small businesses from her home in Folly Beach, S.C. When she met with a financial adviser, she realized there was a missing piece in her business plan: life insurance.
Smithem wanted life insurance to make certain her husband, William, wasn’t stuck with the mortgage and outstanding credit line on her condo — which she bought before the couple married — if she suddenly died. Smithem decided to buy $ 250,000 worth of term life insurance, which will last until after the condo is paid off.
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| Life insurance and “key man” insurance policies can prevent a business from being wiped out financially. |
“I wanted to make sure if I was hit by a bus, my husband wouldn’t be turned out of the house,” Smithem says.
How life insurance protects your family
Even though it endangers their families’ financial security, business owners often put off buying life insurance, says Leonard Wright, a San Diego financial planner and CPA.
One reason for this is confusion about the many types of life insurance on the market today, some of which aren’t a good deal. Wright recommends that business owners get details about the commission structure of any life insurance policy they consider.
“I saw one policy where the insurance agent was paid $ 300,000, and the buyer had hardly any cash value (from the policy),” Wright says. “Sometimes business owners get a sour taste in their mouths after hearing what happens to friends who had unsuitable products peddled to them.”
For young entrepreneurs in the early years of their businesses, term life insurance, which provides coverage for a specified number of years, is the right choice, says John Going, a certified financial planner at Going Brothers Financial in Houston. Coverage is affordable then because younger people present a smaller risk to insurers — only a small portion of them will die before the end of the term. Business owners in their early 40s might consider a 25-year term life policy, which would help their families recover lost income from business activity if the breadwinner dies before retiring.
The other forms of life insurance — whole or universal life — are more expensive because they cover the owner until he or she dies. Therefore, all such policies are assumed to require a payout eventually. Moreover, unlike term policies, whole life policies build cash value over time — in a way, they’re like a retirement account.
If a business thrives and its assets increase, it may make sense at some point to add either a whole life policy or convert the existing term policy to a whole life policy, Going says. The key advantage: Some term policies can be converted to whole life later without the business owner having to undergo a physical exam. Some of the term premiums also may be refunded in the process.
Going advises buying a term life policy from a major insurer with a stellar reputation that offers the option of converting to a whole life policy down the road.
How ‘key man’ insurance can save your business
While basic life insurance is essential for making sure family members are provided for if a business owner dies, it won’t ensure that the business survives.
Financial planner Wright had an experience early in his career that illustrated this problem. He once interviewed for a job at a successful regional retail chain whose CEO and chief financial officer both had been killed in a plane crash. Soon afterward, the job opening disappeared.
Without the trusted leaders of the company at the helm, Wright says, “the banks got spooked, cut their lines of credit, and the company went out of business. They didn’t have the cash to keep it going. I’ve seen this happen over and over.”
So, if you’re a business owner or a key figure at a business, additional insurance is needed to protect the business in case of your death. As Wright saw, banks may sever relations with a company after the sudden loss of the leader who built those banking relationships, despite the company’s strong financial record.
“Key man” insurance addresses this issue. This insurance pays out cash that can finance the business while new bank relationships are developed.
In a partnership, when one owner dies, the family of that owner often retains the person’s share of the business, Wright says. But if banks turn their backs and there is no insurance to provide cash for keeping the business afloat, the business can die as well, robbing the family of their share of what might have been many years of future profits.
“So many business owners don’t understand that key man insurance is just incredibly important to the survival of their businesses,” Going says.
Kathryn Hawkins
Self-employed American often have few options or protections when it comes to health insurance. Insurers often are able to reject applicants on the basis of existing medical conditions and can raise premium costs astronomically from year to year.
Sally Jamara, a self-employed business consultant from Atlanta, knows this firsthand. Since a knee injury a few years ago, she’s been unable to switch to a different insurance carrier because of her pre-existing condition. The cost of her current plan has been “dramatically rising,” forcing her into a high-deductible plan with high out-of-pocket costs.
“I now spend over $ 12,000 a year to cover my medical expenses,” Jamara says.
More than 10.5 million Americans are self-employed, but the difficulties of buying health insurance on the individual market can make entrepreneurship less attractive. The federal health care reform law, known as the Patient Protection and Affordable Care Act, has some provisions designed to protect entrepreneurs and others buying health insurance on the individual market. Here’s a look at how the federal law could affect the self-employed in the years to come.
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| Under the federal health care reform law, self-employed Americans will be able to buy health insurance even if they’ve got pre-existing conditions. |
Changes already in effect
A number of protections already have been put into place. In 2010, the federal government launched a national high-risk insurance pool for uninsured individuals with pre-existing health conditions who’ve been uninsured for at least six months. For uninsured self-employed workers who’ve been struggling to find coverage on the individual market because of health problems, this insurance pool could be an option.
Another insurance issue that hits the self-employed hard is a practice known as “rescission.” In the past, an insurer could retroactively cancel an approved policy when the policyholder got sick and began racking up bills. Often, the withdrawal of coverage would be based on relatively insignificant conditions that a policyholder mistakenly didn’t disclose during the application process.
A survey by the National Association of Insurance Commissioners found that health insurers had dropped about four of every 1,000 policies between 2004 and 2008. But the health care reform law has put an end to this practice for most policies. As of August 2010, it is illegal for insurance companies to retroactively cancel coverage for plans that began after Sept. 23, 2010. For self-employed workers, who must fend for themselves without the protection of an employer’s group coverage, this provision might provide some peace of mind.
One of the biggest money-saving provisions for the self-employed, however, comes in the form of tax credits for small business owners. Businesses with fewer than 25 employees that provide insurance may be eligible for tax credits worth 35 percent of the cost of coverage.
“Many of the self-employed fall just short of qualifying standards for subsidies and tax credits in the health reform law,” says Mike Beene, senior health policy adviser at the National Association for the Self-Employed. “They make too much to qualify for premium assistance but too little to afford the comprehensive coverage they will be required by law to buy.”
For example, the federal law’s small business health tax credit excludes the self-employed (defined as a one-person business), according to the National Association for the Self-Employed. The self-employed can qualify for premium subsidies for individuals and families when take effect in 2014. To qualify, someone must make below $ 43,340 and a family of four must have a household income below $ 88,200. The average household income is $ 62,500 for a self-employed member and his or her spouse, which makes them ineligible for premium assistance.
What’s in store
The health care reform law’s most controversial provision is the individual mandate, which requires all U.S. citizens and legal residents to be insured by 2014. This means all self-employed individuals will have to buy insurance or be fined. But it also means that insurers won’t be allowed to deny coverage, even for applicants with pre-existing conditions.
When the mandate goes into effect, self-employed workers, as well as owners of small businesses with up to 100 employees, will be able to shop for coverage through their states’ insurance exchanges. The exchanges are marketplaces that will let people compare health insurance costs and benefits. Several levels of coverage will be available.
To help individuals afford the mandatory coverage, premium subsidies will be available for those under certain income thresholds. Meanwhile, Medicaid will be extended to support low-income adults making up to $ 14,404 individually ($ 29,326 for a family of four).
The mandate is in danger, as 26 states have questioned its constitutionality. However, Joe Torella, president of employee benefits at insurer HUB International Northeast, says there’s good reason to mandate health insurance.
“The danger is that people will only buy health insurance when they’re sick and won’t buy when they’re healthy,” Torella says. “If I want to buy homeowner’s insurance, I can’t wait until my house is on fire. The only way health insurance will be affordable is if everyone has to play.”
No matter what becomes of the individual mandate, many experts don’t think the federal law will make health coverage cheaper for the average American. Because insurers will be required to include certain essential benefits in their plans, many low-cost plans no longer will be available.
“The new law isn’t going to fundamentally bring down health care costs,” says Robert Zirkelbach, a spokesman for America’s Health Insurance Plans, a trade group. “With the new benefit requirements, many people will need to buy more than they currently have.”
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Auto Insurance LED Business Sign 17″ Tall x 32″ Wide x 1″ Deep
January 8th, 2012
Auto Insurance LED Business Sign 17″ Tall x 32″ Wide x 1″ Deep
- 17″ Tall x 32″ Wide x 1″ Deep. Led signs with 3 settings, either solid or flashing or power off.
- One Year Warranty, with UL Listed with UL Listed. Operating Voltage: 110 vac
- Designed for 24/7 Working Condition
- Uses Only 10 watts which is 6 to 10 times less than Neon. For indoor use only
- Easy To Clean – Easy Installation – Comes With All Hanging Hardware.
This Auto Insurance Sign with your phone # is perfect for your business. It will bright your business very good,will get customer’s attention and very good guideline to your customer. This LED Auto Insurance Sign with your phone # prefect for day and night time. Our LED signs are hand made in USA facility. High impact, eye catching, real LED sign, very low energy usage
List Price: $ 381.00
Price: $ 381.00
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How can I get health insurance for myself and family and pay for it as business expense without employees?
January 1st, 2012
Question by Dane C: How can I get health insurance for myself and family and pay for it as business expense without employees?
I’m a successful part time entrepreneur in California, but I maintain my day job because of the group health insurance they offer. I’d like to cut the apron string and go out completely on my own, but the insurance situation holds these plans hostage.
I don’t want to buy private health insurance, I would like to structure my one man business so that I can easily purchase group health insurance for myself and family. I’d like to purchase group insurance as opposed to private insurance so that I don’t have to deal with preexisting conditions and riders, etc. Since I’m still a sole proprietor, I have plenty of leeway in regards to business structure, and I’m willing to change whatever is necessary to get the best deal possible.
How can I get health insurance for myself and family and pay for it as business expense without employees?
Best answer:
Answer by bic
you can’t legally.
Give your answer to this question below!
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Business Opportunities /video
December 29th, 2011
www.sportsballuk.co.uk Hello, im Trevor, If you are looking for superb business opportunities, then my website could help you find your dream business sportsballuk is dedicated to helping amateur sports clubs ie SOCCER, rugby and American football teams, save money every season. it is also to help anyone who loves sport to start up and enjoy a great business, they can run from home for the rest of their working life. For less than £120, you can have a superb business, with very few overheads. AND IT IS A GENUINE BUSINESS, NOT ONE OF THE MANY MULTY LEVEL TYPE, THAT YOU ARE ONLY MAKING MONEY FOR SOMEONE ELSE. however my business may not appeal to everyone, so please Allow me to give some good advice, if you are thinking of starting a business, and not sure where to begin, and also you may be a little apprehensive, as to how to to proceed. In these days of recession, most people need extra income. let me tell you how i went about it 43 years ago. i was working for a well known company, walls ice-cream, and sausage and bacon suppliers. i was a time served butcher and was promoted to a quality control inspector at walls. i was in my early twenties, on a decent salary, but i realized that i would always be a wage slave for the rest of my life, unless i did something about it. no one but me could change that. even though i was on a good wage, for those days, i was always down to my last penny, come pay day, as most people are. and could barely manage to give my young family a …
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JAW Business Solutions – Get a Will
December 28th, 2011
JAW Business Solutions – Assistance and support services for the Small to Medium Enterprise. Health and safety consultants Staff Training courses for the workplace Quotes for cheap insurance Fire risk assessments and safety training Local Community TV advertising on LCD Screens Will writers and probate service Save on Business gas and electricity Advertising for restaurants Low cost cheap website Graphic Design and Printing Birmingham, West Midlands. United Kingdom
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JAW Business Solutions – Cheap Websites
December 28th, 2011
JAW Business Solutions – Assistance and support services for the Small to Medium Enterprise. Health and safety consultants Staff Training courses for the workplace Quotes for cheap insurance Fire risk assessments and safety training Local Community TV advertising on LCD Screens Will writers and probate service Save on Business gas and electricity Advertising for restaurants Low cost cheap website Graphic Design and Printing Birmingham, West Midlands. United Kingdom
