Small Business Healthcare - #smbiz Chat Recap

Below is the recap and discussion for the #smbiz Twitter chat on healthcare options for small business owners, entrepreneurs, solopreneurs and mommy bloggers. Expert panelists for this chat were @CSteven, @drjfpmd, and @PreferredHealth.

@smbiz Q1 What should a small business owner look for when researching the right insurance plan for employees? #smbiz

@CSteven That is a lengthy answer. The best way to answer is to examine my Ten Question Methodology prior to policy purchase. #smbiz

@drjfpmd Q1 b) easy, timely access to healthcare providers c)cost effective meaning get quality #healthinsurance coverage for best cost #smbiz

@PreferredHealth Q1Business owners should search for a broker appointed with all carriers to help search through plans to meet the needs of employees. #smbiz

@CSteven Ten Questions You Should Ask Your Agent BEFORE You Buy A Policy: http://bit.ly/pT8l8 #smbiz

@drjfpmd Q1 look 4 #health plan that a) has coverage for wellness as well as illness esp prevention services #smbiz

@CSteven A Business Owner should consider an HRA (Health Reimbursement Arrangement) when shopping for insurance. #smbiz

@CSteven An HRA is a brilliant concept that allows the business owner to share in a small portion of the medical claims risk. Doing so drives #smbiz

@smbiz Q2 Why is it so difficult today for a small business owner to get reliable, affordable coverage and plans? #smbiz

@PreferredHealth Q2 Mostly due to company size and cost. Also the confusion of all carriers and plans is what makes it difficult. #smbiz

@CSteven Answer to Q2: Lack of education. The average business owner still shops for Traditional Health Insurance plans (non Tax qualified) #smbiz

@drjfpmd Q2 #health #insurance costs too much & getting more expensive 4 #smbiz - after taxes & payroll what’s left?

@CSteven the cost of which is usually twice as high as Consumer Driven Tax qualified Health Insurance plans. #smbiz

@CSteven The owner of the “Whole Foods” company is a perfect example of a business owner who stepped “outside of the box” and in doing so #smbiz

@CSteven He was able to purchase health insurance for his company for half the cost of Traditional health insurance. He also empowered his #smbiz

@merylevans Q2 The main reason is a lack of a ppl to get a good deal. Need at least 3 emps to “under” HR company to plans. Freelancers no luck. #smbiz

@CSteven employees by opening Medical IRA’s for each of his employees to deposit tax deferred, tax deductible dollars in to. #smbiz

@CSteven The money that is not used 4 this years health care expenses is “rolled over” to the following year. Thereby building a separate IRA #smbiz

@drjfpmd Q2 this article from @dallas_news http://is.gd/1GJfb about #health #insurance costs being too steep for #smbiz

@CSteven with money that would have normally been given to the insurance company. His story can be viewed in this URL. Here it comes: http://bit.ly/CSeFG #smbiz

@CSteven To learn more about Consumer Driven Tax Qualified Health Insurance visit: http://bit.ly/qvBr3 #smbiz

@smbiz Q3 How will Obama\’92s healthcare reform programs be beneficial for a small business owner? #smbiz

@PreferredHealth Q3 Not sure it will be beneficial it looks as though it may result in higher costs in the long run for most small business\’92. #smbiz

@SternalPR @preferredhealth What R consequences of if ur company offers ins. or if they decide to pay 8% penalty? #smbiz

@drjfpmd Q3 with tax increase, cost of #health care increasing, & dependent upon each other #Obama plan offers little for #smbiz

@PreferredHealth Q3 Here is recent post about #smbiz ins from USnews.com on my blog.

@PreferredHealth Q3 http://bit.ly/3OhBcM #smbiz

@smbiz Q4 Ok now what\’92s the downside to the proposed changes/program from Pres. Obama? #smbiz

@PreferredHealth Q4 Individuals are required to get coverage and employers to offer it or face financial penalties Continued. #smbiz

@PreferredHealth Q4 Businesses with payrolls under cont. $250,000 are exempt from the mandate. #smbiz

@CSteven The downside of Obamas plan is that it will without question disallow tax deductions that have been in place since the 1990’s thereby #smbiz

@CSteven destroying Consumer Driven Health Insurance & taxing deposits many have contributed over years in to their medical IRAs tax deferred #smbiz

@CSteven The other downside of Obama’s plan is that a “public option” is most certainly not “healthy competition” for insurance carriers #smbiz

@CSteven Why? Because if claims supercede reveneue, the Fed can simply “borrow” from the treasury, or print more money. An insurance company #smbiz

@SternalPR @CSteven Well thats bad for ins. companies…but is that bad for employees??? #smbiz

@CSteven @SternalPR, Obama’s plan is most certainly bad for employees because the Public Option will most certainly put the insurance companies #smbiz

@CSteven out of business. Then the employees will be forced in to a goverment health care system. Which will lead to rationing. Just a fact #smbiz

@CSteven Every GOVERMENT who has adopted such a system has improved their bottom line, but their citizens are the ones who suffer. #smbiz

@CSteven Real examples of those who are forced to recieve their health care through a goverment plan R here: http://www.sbisvcs.com/blog… #smbiz

@CSteven does not have the luxury to play with America’s Blood Sweat and Tears (taxes). This being the case, the insurance company must #smbiz

@drjfpmd Q4 big down 2 #Obama plan more #health care rationing! NY Times Why we must ration health care http://short.to/jpax #smbiz

@smbiz Q5 What is the best type of small business health insurance plan and how much can employees expect to pay? #smbiz

@PreferredHealth Q5 Every situation is different, unfortunately health insurance is not a one size fits all. Continued.. #smbiz

@PreferredHealth Q5 Factors: # of employees, location, type of business, health conditions, coverage type, etc. #smbiz

@drjfpmd Q5 is the best #health insurance 4 #smbiz like Whole Foods use of MedicaI IRA? #smbiz

@CSteven Answer to Q5. That answer is most definitely a Consumer Driven Tax qualified Health Insurance plan (HSA qualified or HRA arrangement) #smbiz

@smbiz RT @MattMaschler: y can’t health ins be like car ins? Shop amongst mulitple companies competing for your business. No Employer plan #smbiz

@SternalMrktg @MattMaschler It’s not being offered by companies, it’s the government’s new plan to balance out the health care system. #smbiz

@smbiz merylevans Q6 I have yet to see a solopreneur get a decent insurance plan. Either they have to have a spouse w/ bens or pay $$$ premiums. #smbizQ6 Are plans different for entrepreneurs and solopreneurs? Differences if you\’92re a woman entrepreneur? #smbiz

@CSteven Answer to Q6. There are very few differences in plan design for entrepreneurs or solopreneurs. However, women will pay more every time #smbiz

@PreferredHealth Q6 No, there is no difference and generally women can expect to pay a little more than men. #smbiz

@CSteven There are some great options for the solepreuneur (self employed). Once again though, those options can be severely limited by State #smbiz

@drjfpmd Q6 Women visit doctor much more than men. is this why they pay more for #health #insurance? #smbiz

@smbiz Q7 Is it reality or a pipe dream for socialized healthcare to work for small business and employees? #smbiz

@PreferredHealth Q7 Yes, from most reports and proposed bills small business\’92 and self insured families may be impacted the most. #smbiz

@SternalPR I have a question: Instead of a full out socialization, why cant we just regulate more to bring down costs 4 every1? #smbiz

@CSteven Q7. It is a pipe dream. There is no empirical data anywhere that shows that socialized medicine works for the CITIZEN. #smbiz

@robert_brady Q7 Socialized health care will always be inefficient. I’m with @SternalPR. Set some rules and then let free markets sort it out. #smbiz

@PreferredHealth Agree. @SternalPR: I have a question:Instead of a full out socialization, why cant we just regulate more to bring down costs? #smbiz

@smbiz Q8 Many entrepreneurs don\’92t even know where to get started in looking for good, affordable coverage. Any answers on this? #smbiz

@PreferredHealth Q8 www.preferredhealthonline.com Search out a broker licensed in your state & interview a couple to find 1 you would like. #smbiz

@CSteven there is no Federal oversight committee for Medical practitioners who make mistakes. Did U also know that the amount of medical #smbiz

@SternalMrktg Q8; Just came across this insurance resource today during SmallBizTrends radio show http://www.ehealthinsurance… #smbiz

@smbiz Q9 Are there any non-profit organizations available to help small biz or entrepreneurs if they simply can\’92t get coverage? #smbiz

@PreferredHealth Q9 Every state is different check with your state Department of Insurance (DOI) #smbiz

@SternalMrktg Q9: Way for entrepreneurs to get free info on insurance http://coverageforall.org/ #smbiz

@smbiz Q10 If employees don\’92t have good coverage from company, does it make more sense for them to go get it on their own? #smbiz

@PreferredHealth Q10 Of course it does as long as the policy is more beneficial or more affordable. It\’92s free to look.. #smbiz

@CSteven Q10. It always makes sense to explore obtaining your own health insurance coverage on your own. Outside of employer sponsored arena #smbiz

@drjfpmd Q10 yes you should be able to get your own health insurance, but can you? How? #smbiz

@drjfpmd Q10 #health insurance resource from Amer Diabetes Assoc http://is.gd/1GVvj #smbiz

@smbiz Q11 Any resources you can share for more info about small business health ins. options? (Feel free to share info/books on your sites) #smbiz

@PreferredHealth Q11 www.Preferredhealthonline.com #smbiz

@smbiz Discount health ins. for small biz via Americas Best Companies (Thanks @kfenolio!!) #smbiz http://ow.ly/hQoP

@PreferredHealth Q11 I update my blog several times on Leading Health Tips and Insurance http://bit.ly/35NNUC #smbiz

@SternalMrktgRT @CSteven Anyone considering purchasing ANY kind of Health Insurance visit: http://www.sbisvcs.com/heal… FIRST! #smbiz

Tagged as: #smbiz, @sternalmrktg, @sternalpr, entrepreneur, healthcare, mommy blogger, Small Business, solopreneur, Twitter