Is Health Insurance worth it?

Having a corporate health insurance policy for a small business has both its upsides and its downsides, but when do the benefits outweigh the negatives.

It has to be said that good health insurance coverage for everybody in a place of work is obviously a good thing, but it is an added cost and nobody likes that, but perhaps the cost is covered by the benefits. The increase in the level of health would probably add to the productivity of your staff and therefor help in overheads. Healthier staff take less days off due to ilness also helping you get things done.

But on the downside, quite often the individual insurance companies do not give small business the flexibility needed compared to the big companies which have such big accounts that they need flexibility. All this means that you will have to check very carefully in the small print there are companies that do offer a surprising amount of flexibility, but you have to look for the right one for your needs.

So in all it does seem that if you are wishing to overcome the initial expenditure, in the long run a health insurance policy can pay off, through increased productivity and less time off, plus your employees might be that slight bit happier.

Small Mercies

Throughout this entire trying time there has been little to be thankful for, especially in the sphere of small businesses. Moneis have been scarce, bank loans thin on the ground and the public at large are going through the type of austerity drive that would dry up even the most lucrative streams of income.

It is in this light that even the smallest of mercies comes as a blessing. Therefore at least the Bank of England has kept the interest rate at only 0.05% for more than a year, at least this can in some keep long term debts down while the companies have to re-adjust in the short term.

How long this state of affairs is likely to continue is more in the hands of those great economists, but in the mean time if spending is kept to a minimum, and all economies are to be maximised so that small business comes out the other side fitter and leaner than ever.

Small Business in the Big Society

What position has small business in this new-fangled "Big Society"? The big society is set to change the nature of the British landscape, for better or worse depending upon who you listen to. There will be change that is for certain. But what will be the effect upon small businesses. As it currently stands the small business community is already under pressure from the rather slow progress in the recovery, but this voluntary move might be just as bad.

In the big society, where most of the tasks are to be taken up by the voluntary sector by good-minded citizens, this all sounds absolutely fantastic, except that it overlooks the fact that many small businesses survive on public sector contracts, and that when they fulfill this role they also provide much needed local employment. Nor does cover the fact that answer the fact that only those able to volunteer will give their time.

When it comes to the overheads caused by companies in providing these services: wages, health and safety checks, company private health insurance, guarantees, it all goes to show that this may,in fact, impede the progress of small companies when this important part of the economy is in most need of a boost.

Yes, the "Big Society" may sound great on paper, but real life isn't drawn up on bits of paper.

The Benefits of Healthcare

A brand new initiative by the Forum for Private Business [FSB] has shown that there are some several benefits in employee health insurance for small businesses, and there are ways to get around the potentially prohibitive costs for companies that are just too small take take out a policy on their own.

The benefits of a healthy workforce are clear to almost everybody when they think about it. A healthier workforce is not only a happier workforce, but a healthy workforce is also more likely to be present, and when at work a more vigorous workforce.

Studies have shown, time after time, that a business healthcare plan brings healthier employees, and that the healthier the employee the more likely they will be able to return to work all the quicker, and all the fresher for their time off. And that a healthy happy workplace is a lot less likely to suffer from Monday morning 'sivkies' and we all know that this takes place.

And all this can be achieved by the smallest of businesses by organisations like the FSB offering discount if the insurance is taken out by the members through a collective insurance in the name of the umbrella organisation. Simple.

Smoking Areas at Work

If you have (still) some smokers left in your place of work, you know that it is in the best interests of everybody that the whole place is smoke free. The law provides for much of this, but you still do not want the unsightly look of a huddle of people standing outside the front door smoking away.

But a certain amount of leeway is needed to be given to these poor mites, after all they are not breaking any laws, but they certainly are not helping themselves through their actions. If you must provide a location for the smokers to smoke then try to make it as out of sight as possible, this helps not to tempt those who themselves have given up, and it makes it that little bit more awkward for those who still pertain.

And of course there is the overall health of the the company, if certain members of your company are smokers, this brings down the health & well-being of the company. If you have health insurance for employees of the company then this might cause slight problems, as not everybody will be at the same standard of healthiness, and that might affect the costs, and that would be unfair on everybody else.