Is the Cost of Health Insurance Holding You Back?

Incurring the high costs of health insurance - especially when you are an entrepreneur or small business owner - can often present challenges and hesitations that reach far beyond they day-to-day operation of your business.

Are you letting the good potential employees
walk out the door?

Perhaps the inability to offer heathcare coverage is preventing you from hiring much needed employees.  Maybe your business is ready to take off, if only you could leave your 9 to 5 job that is currently providing you with health insurance. Whatever the reason, many entrepreneurs and small business owners are stuck between a rock and a hard place when it comes to growing their business. 

On one hand, you have grown and cultivated a business that is generating interest and income.  On the other hand, health benefits for you and your employees seems out of reach, due to high costs. 

What is the alternative? 

The High Cost of No Insurance

Many entrepreneurs and small business owners believe they cannot afford to purchase health insurance for themselves or their employees. However, taking into consideration the greater costs of not having health insurance, it may be worth rethinking that position

Lost Employee Time



Often, people who do not have health insurance defer doctor visits until they are having major health problems. As a result, illnesses and conditions that can be addressed when they are minor concerns often become extremely expensive to treat. Instead of missing one or two days of work, the employee ends up missing more than a week or longer due to illness.

Employees who do not have health insurance for their families also lose work time if they need to stay home taking care of their children. Again, instead of being able to easily take their child to the doctor to get needed medications and treatment early in an illness, minor health conditions turn into major illnesses, requiring longer and more expensive recovery times.

The rewards for helping your employees is
immesurable

Employee Financial Distress



Whether you are considering insurance options for yourself or for your employees, one of the major factors to think about is the financial impact of not having health insurance. Unfortunately, medical care is expensive, especially for chronic or major health problems. Health care expenses are often one of the major factors behind bankruptcy, and can cause substantial distress for you and your employees.

Small business owners need employees to be focused on work priorities, and solopreneurs can rarely afford to lose valuable time growing their business. However, for those without health insurance options, the cost of routine checkups and doctor visits can become a major worry. Self-employed business owners may be challenged with the cost of medical care if they find themselves facing a major or chronic illness. Health care expenses are not limited to doctor visits. Other costs that can quickly escalate include medications, physical therapy, hospital stays and other needed medical treatment.