Posts Tagged ‘Covered’

How to keep your small business covered properly

Article by David Mayer









The costs linked to health insurance are constantly on the rise while most small businesses are looking to minimize their budget spendings these days. Due to this the Congress has provided a new viable option for small businesses to keep their employees covered in the form of has (health savings accounts). What are the benefits of using has in a small business and how it is different from typical group health insurance plans? This article will explain it all.

What’s HSA is all about?

In essence, HSA is a newly developed form of individual and group health insurance that combines a high-deductible health insurance plan with a savings account that’s free of taxes for medical coverage purposes. HSA are employed to lower the expenses both for business owners and workers in the field of health insurance. And with the current economical situation most small business owners find HSA as a very good alternative to typical group coverage plans.

The Wall Street Journal reports that large enterprises spend about ,000 per employee each year for health coverage. And with growth rates exceeding 15% early, no wonder that almost half of small businesses in the US do not offer health insurance to their workers at all. Such growth rates can’t be explained by the inflation or to increase in wages, because the raise in health insurance costs well exceeds the both.

It’s evident that in such a situation more and more business owners will choose not to provide group health coverage to their employees in order to minimize the costs and try to stay on float. What can an HSA bring to the table in such unfavorable conditions?

The benefits of HSA compared to typical health insurance options:

1) High deductible plans are used. This means that the premiums your workers will have to pay will be much lower than with traditional group plans.

2) Tax-free contributions. HSAs use tax-free savings accounts, which means that all contributions are not included into the gross income. A great benefit for those who want to spend more on small business insurance.

3) Healthcare education. Due to the fact that HSAs involve the users into more active participation in their healthcare processes, users become better educated about healthcare in general.

4) Tax-free medical expenses. All the spendings for qualified medical assistance are not tax-deductible, which is definitely a nice feature for small businesses that are on a tight budget.

5) The account is owned by the employee. This means that the coverage will continue no matter what, even if the worker switches between employers or even goes without a job.

6) Roll-overs are possible. With this option the account owner can use it as a retirement plan by accumulating more funds on it every year.

7) Tax-free interest and dividends.

6) Employer contributions are free of taxes. This allows the owners concentrating on their small business insurance needs without having to worry about taxation on health insurance coverage for their employees.

As you can see, HSAs give better flexibility and coverage opportunities to small businesses, which are definitely the most vulnerable group of economical agents. So if you own a small enterprise, think of an HSA as a tool for optimizing your small business insurance accounts.



About the Author

To read more of David Mayer’s comprehensive investigations on different subjects visit http://www.buysmallbusinessinsurance.com/articles/health-insurance-options.html, where he frequently writes form making people aware of more things in the world.










What Won’t Be Covered by Your Car Insurance

There are many types of car insurance. So it does not mean that if you have insurance car insurance you are already totally covered. You would have to check what car insurances are offered by the car insurance company. And before you buy cars insurances, you should check out what it actually covers. Aside from that, some instances also increase the premiums of cars insurances. You should take note of them since no insurance car insurance will protect you from them if they are not included in the coverage in the first place.

When You Only Have Liability Car Insurance

The minimum insurance car insurance requirement is what is known as liability car insurances. As mandated by law, every car needs to have liability car insurance. Liability cars insurances typically cover damages and injuries to the other party in the accident. This is the cheapest among car insurances. But if you only have this type of car insurance, the damages to your car won’t be covered by liability car insurances. While liability insurance car insurance is the cheapest, you will need more comprehensive cars insurances if you want to get more coverage and protection.

Third Party Fire and Theft Car Insurance

Again, you need to check out what cars insurances do cover before buying. For instance, if you are buying third party fire and theft car insurances, the insurance car insurance will only cover the damages and injury to the third party. This type of car insurances will also cover damages and loss of the car like when the car is stolen or meets an accident. Other damages or injuries would not be covered. That is why you should not be complacent about cars insurances. You should really know what your car insurance covers so you will not be under false expectations. When you finally need to make a claim, you know whether the damage is covered by the insurance car insurance or not.

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Comprehensive Car Insurance

Comprehensive car insurances basically cover mostly everything from third party injuries to even simple shattered windshield and more severe car damages. But then insurance car insurance packages may also differ from one insurance company to another. Some exceptions may also be in effect too. So don’t be fooled by the term comprehensive cars insurances. You still have to check what exactly the comprehensive insurance car insurance you are buying really covers.

Nevertheless, comprehensive cars insurances usually still provide more coverage compared to other limited car insurances. It’s only a matter of looking into the details so you can ascertain whether the set coverage is what you need. Comprehensive car insurance policies are the most expensive though. Even so, it is usually worth the investment. So instead of trying to minimize coverage, you should focus on lowering your premium instead. For instance, you can get insurance for all your cars from the same company if you have several cars. You can also avoid tickets from traffic violations. This alone would already make you a less risky driver and let you purchase insurance for your car at a lower premium. This would then allow you to get more coverage for a lower premium.

The word for car insurance in Danish is Forsikring bil sammenlign and if you would like to buy one, you should visit this resourceful Danish website. You can translate it using Google Translator in case you don’t know Danish. If you need help selecting your car insurance, read this article.


Article from articlesbase.com

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