Budget 2010 Today

So today's budget day. How do you all feel about it?

At this stage it's too early too tell exactly what shape of budget George Osborne's going to make, other than cut-shaped. yes, there's going to be deep cuts.  It's believed in some quarters that the government are going to impose a "steep rise" in VAT, which makes me wonder - how steep is steep? After all it's not that long since VAT went back up to its current level. I'd say steep probably then means an increase to 20%.

Then there's the talk about the NHS - even if funding is ringfenced, it could conceivably drop in real terms. Definitely time to think about the benefits of health insurance for small business

Other notable changes that are reported to be afoot: changes to the tax threshold meaning that lower earners would be better off. It's good to know there will at least be some winners....

Our next post will cover the budget in light of what it actually delivers, so until then it's fingers crossed that the chancellor can bring us out of recession, cut the deficit, deliver full employment, etc etc...

Would You Own Your Own Business?

I suppose at times being your own boss can be the life of luxury, but have you ever thought of the more stressfull side of things before starting up a business?

Many small business owners could tell you of the day to day stresses of running your own empire because even though it seems great that you're your own boss I'm sure many would disagree! There are so many different things to take care of like corporate health plans. It doesn't matter how many employees you have they all need to be insured for any accidents thay may happen in the work place. Along with that there is the challenge of keeping work coming in, managing the money side and probably the most important, keeping your employees happy!

If you own a business yourself or have done so in the past let us know what you think on this matter and whether it's worth taking the gamble of starting up your own business. 

Setting up your own Business

For a select few that are up to the challenge it's stressful enough owning your own business with all the things that come with it. Obviously there are great added bonuses of having your own business with no boss to answer to and all the cash going to you unless you have workers on board with you.

One issue that needs sorting out is company health insurance, the last thing you want happening is something going wrong and your not covered for it so getting this set up straight away would be a huge benefit to you and your business.

If your someone who owns a business feel free to leave a comment and let us know how hard it is to actually start up one with all the different issues needing addressed.

Keep Absences Down, Keep Overheads Down

The best way to reduce your overheads, including your insurance premiums is to keep a fit and healthy workforce, it reduces absences and it simply gets more done. Here are some tips I've gleaned in my reading up on the subject.

 1 - Have a healthy working environment, don't try to work your employees within an inch of their lives, it doesn't give them the impetus to turn up fit and raring to go.

 2 - Reward good attendance, don't get stuck on the negatives, try to encourage perfect attendance through incentivisation, be that, in the form of a bonus, or something other than pecuniary.

 3 - If someone is often absent, try to find out the underlying problems and understand that everybody has different needs, some people may need a long time off in order to get back to full fitness.

 4 - Remove barriers to getting back to work, it has taken the commercial sector up to this far to make every workplace fully accessible to everyone, and we still haven't got it completely right yet.

 5 - If all else fails get in touch with a professional Human Resources and/or Occupational Health adviser there may be something fundamentally wrong that you just cannot see, that is what these people are there for.

The simple fact is that all of these things can help reduce your overall corporate health insurance premiums year on year and that is surely the best thing for everybody involved. Both you and your employees.

2010 Medical Insurance Conference Announced

The date has been unveiled for this years Association of Medical Insurance Intermediaries [AMII] Exhibition and conference.

The Conference this year will take place on Thursday 1st July, at the Barceló Hinckley Island Hotel, just outside of Coventry, and is sure to be attended by all the top people in the world of health insurance.

The theme for 2010 is set to be "Working Together for a Healthier Britain" and it expected to be the largest Conference so far, with more delegates from the health insurance business than ever, mingling, networking and scoping out the competition.

If you want to know all the new things in the Corporate Health Insurance World then you had better send someone along, or better still attend in person, after all you never know what contacts you might be able to make.

On Your Own - Insurance

Even when you're on you're own you still need some sort of protection from the unexpected. The thing is that the smallest of businesses will try to cope with people trying to do more than one job when a colleague goes absent for a time. This can't be the case if you decide to go it alone in business.
The simple fact is that a person who is self employed becomes incapacitated there is no one else to run the business, and besides now there is no more revenue coming in.
There is only two possible things that can happen in these circumstances: you can go on sickness benefit [barely enough money to keep yourself going, never mind any dependents you may have] and temporarily wind up your new business; if you have had the forethought to take out a self employed health insurance plan. This not only covers the cost of any medical bills but will provide income replacement after a certain time off work [depending on the policy].
It has to be said that neither is the best option, you can go for the short-term savings risking the possible loss of impetus for your business, or you can be cautious, and try to smooth out the bumps which are inevitable in any business.
Good Luck Out There.

Small is Beautiful

All businesses need adequate protection, especially so if you find it difficult to get good cover if one of your employees has to be absent for a long time.

The smaller the business the more important it is for the corporate medical insurance provided absolutely guarantees that the company is able to hire temporary staff to cover the vacant positions. Larger companies do not have to worry so much about this as when more people are employed there is always a certain amount of overlap in the employees' job-skills. But most SMEs have to make sure that the person in every position is specialised in their field.

The best way to ensure that your business is adequately protected for any eventuality is to check around, always make sure to check the small print in any coverage, and don't just go for the cheapest option [although don't ignore it just because of that!]