There is an ongoing debate for small business owners about whether or not they should provide health insurance for their employees. This article explores some of the options and decisions that owners face.
Those that decide to provide health care coverage sometimes have to deal with very high premiums. Given these economic times, those costs are often times too much handle. The alternative that some choose is to not provide the insurance, which puts employees in a difficult spot. In order to keep coverage for employees, many owners are asking that they contribute more from their paychecks.
Albeit a minor solution, small business owners should be tapping into resources and tools available to them to cut back costs by any means possible. This might allow for an extra cushion to be able to provide health insurance. As a small step, we would suggest exploring alternative spending options to help save money and handle day-to-day money transactions more efficiently.
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.