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If your business cannot afford a bunch medical health insurance plan, or can’t meet minimum participation necessities, work together with your broker to design a premium reimbursement plan. Premium reimbursement permits your business to supply workers healthcare allowances for their particular person medical health insurance insurance policies. This is an alternative choice to an employer-sponsored group medical insurance plan. As many enterprise owners know firsthand, traditional group health insurance is largely broken – it’s too costly and it no longer works or employers and staff.
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For a supervisor making $forty,000 a yr, that’s $20,000 to $30,000 in recruiting and training bills, together with other intangibles. Employee turnover costs small companies money and time.
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