Your company needs health to succeed.

A Q&A with Ted Aldershof, CPS, RFC

Q: What are the benefits of providing health insurance to my employees?

Aldershof: It's no secret that employees value health insurance benefits. Surveys have shown that workers value health insurance coverage second only to monetary compensation.

By offering group health insurance benefits to your employees, you may find it easier to hire and retain the best workers for your company.

As a business owner, you may not have health insurance coverage yourself. Perhaps you've consider shopping for an individual health insurance plan for yourself and your family, but did you know that by obtaining insurance through a company, you may get better rates than through the individual market?

Additionally, there are various tax incentives available to you and your employees when you participate in a group health insurance plan. For example, business can generally deduct 100% of the premiums they pay on qualifying group health plans and, by offering group health insurance as part of a total compensation package; you may be able to reduce payroll taxes. Plus, your employees can pay their portion of the monthly insurance premium with pre tax dollars. Make sure that you take these incentives into consideration when determining the affordability of a health insurance plan for you and your employees.

Q: As the employer do I have to contribute 100% to the employee premium?

Aldershof: An employer does not have to contribute 100% of the employee premium.

Q: How do I know if my company qualifies for group health insurance coverage?

Aldershof: Your company consists of at least two full-time owners, officers, partners and/or employees, as verified by officially state quarterly wage and tax statements DE-6 or annual federal tax return.

Your company is a legitimate business entity as verified by the following documents:

* A business license or fictitious name filling (proprietorships and partnership)

* Articles of incorporation (corporation)

* Articles of organization (limited liability company)

For more information on Employee Benefits, Group Health Insurance Services or how to provide The Integration of Benefits Plan for your employees please contact Ted Aldershof, CPS, REC of Spectrum Benefits Group at 1-800-710-0077 or via [e-mail]