Bernardini & Donovan Insurance Services

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Health and Wellness Benefits

There are so many benefits to having health insurance. From the simple fact that when you are feeling not at your best you have a place to go to get some care. Even having the peace of mind of knowing that when your baby won’t stop coughing you have an expert at hand who will give you everything you need to take care of your little one. But did you know that there are many additional benefits to your health insurance besides your basic doctor visits, prescription drugs and hospital care. Online access – How many times have you lost your ID card and need to call to get a new one mailed to you. With online access you can print out a new ID card immediately. You can also see your claims, changed doctors, and never be on hold for over an hour again. You can do all of

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Tax Benefits You Can Get By Offering A Small Employer Sponsored Health Plan

Health insurance can be a very complicated part of being a small business owner. Many small business owners struggle with what they should do when it comes to health insurance for their employees. Many times they want to offer health insurance as an option but they find it difficult to fund that as a business owner. It can be very expensive and prices are only rising due to the healthcare mandate. However, there are options for you as a business owner so you can save money as well as provide a health insurance plan that they can choose.Tax DeductionsAs a business owner, if you offer a qualifying group health insurance plan for your employees, you may be able to deduct 100% of the the premiums that the business pays for the employees. This is great news for all businesses but especially small business owners. While the cost may be high

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Why To Consider Offering An Employer Sponsored Health Plan Instead of Reimbursing Employees

In recent years, there have been small business employers who have opted to reimburse their employees for the cost of health insurance instead of offering health insurance. While you are not required to offer health insurance to employees if you have less than 50 full time employees, you may want to consider doing so. Reimbursement for Individual Health PlansIf you reimburse your employees currently, there is a huge reason to stop doing that immediately. With the Obamacare mandate, you may be fined up to $100 per day, up to $36,500 per year, if you reimburse employees for medical care and have more than 50 full time employees. As a small time business owner, this is not a fine you have to worry about with 2-50 full time employees but if your company is growing, you may want to stop offering this before you do run the risk of paying a

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A Buyer’s Guide: What to Look For in a Small Employer Sponsored Health Plan

As part of the Affordable Care Act, employers with 50 employees or more must provide or help subsidize health insurance for their employees. Rather than looking at this policy change as a potential cost, small and medium business owners should focus on the competitive advantage – and tax benefits – offering health coverage can provide. As the cost of healthcare continues to rise, good health insurance coverage is becoming more and more of a differentiator when top talent is choosing between companies. Especially as younger generations enter the workforce, they expect to receive coverage and may use these types of benefits to help decide what companies they want to apply and work for. To ensure your business stays competitive within the job market, here are three top considerations to guide your decision when choosing employer sponsored healthcare: Know What Coverage Matters: the top coverages employees look for are preventative care,

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Things to Consider When Choosing A Health Plan Offering For Your Small Business

When you own a small business, with 2-50 employees, even if you are not required by law to offer a health plan for your employees, you may still want to. If you want to choose a health plan for your employees, there are a few things to consider before making your decision. You need to keep both your business goals as well as the benefit of your employees in mind. This is a careful balance but it can be done with the right considerations along the way. Use this list as your guide through the process. How much can your business pay and how much can your employees pay? In general terms, plans come in terms of premiums. The higher the premium, the lower the costs out of pocket and vice-versa. Something to consider is how much both your business and your employees can afford in terms of premiums and

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Adding a Spouse to Your Health Insurance Plan: Important Considerations

Whether you’re getting married in the near future or are already married, there’s a good chance that you’ll need to add a spouse to your existing health insurance plan at some point. If this applies to you, then there are some important considerations you’ll want to keep in mind as you go through the process. Annual Enrollment Periods First of all, understand that all insurance companies have what’s known as an “open enrollment period,” which usually occurs once each year. This is a pre-determined window of time when new members can sign up for a health insurance plan and spouses/dependents can be added to existing plans. Make sure you know when your company’s annual enrollment period is and make sure you get all necessary paperwork submitted during this time to ensure coverage for your spouse. Qualifying Life Events Keep in mind that there are certain situations where you may be

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