Group Health Insurance

Offering employee health insurance within a small business is not an easy decision. There are costs involved and not just monetary, but also staff (and your) time. Entrepreneurs often find themselves working in their business rather than on their business, making implementing employee benefits even more taxing. For over 15 years, the Wharton & Power Insurance Team has supported the BAGI community in taking the leap to providing group health insurance. Below we outline our steps that seamlessly lead you […]

10,000 Americans reach 65 every day. While the average age of retirement has increased over the past three decades, health, family, and financial considerations serve as the major triggers for leaving the workforce. Regardless of the reason, losing an employee with deep knowledge and experience can be a difficult blow. With the lack of qualified people available for hire in the home improvement industry, the impact on your business can be even greater. How do you prepare for a retiring […]

With shrinking candidate pools being the top concern for the home improvement industry, employers are having to be flexible with their definition of “employee”. While part-time, varied hours, apprenticeship, etc. positions are becoming more common these days, the demand for benefits has not changed. Fortunately, the ICHRA program provides an employer health insurance option that offers many employee classifications the benefits they seek. ICHRA Overview This program launched in 2019 allows employers to contribute pre-tax dollars for employee health care. […]

Some of our most recent blogs have noted the importance of positive company culture in attracting and retaining employees. While you might initially think of ping pong tables and happy hours, it is actually structured employee benefits that play the largest role in sustaining a supportive work environment. Which ones are most important to employees? Take a look below. Recognize Good Work According to GreatPlaceToWork.com, having a measurable and consistent program for rewarding employee excellence demonstrates that your organization values […]

According to the Wall Street Journal, the current construction boom plays a large part in creating the lowest unemployment rates we have seen in the last 50 years. With both commercial and residential construction spending continuing to rise, it’s no wonder that the competition for employees is fierce. As a local business, it may seem impossible to attract and retain a workforce when you are up against larger or national competitors. Below we offer some tips on how small employers […]

As a business owner, you face many issues competing for your time, and employee health insurance may not get the attention it needs. However, it is always top of mind for us, so we thought we’d share an option you may not know about which eliminates barriers to offering benefits to your team. ICHRA: An Employee Health Insurance Option You May Not Know About The ICHRA program was launched in 2019 via a rule issued by the US Departments of […]

As we have been talking to Indy business owners over the past few months, they have been noting a new hiring trend in employee recruitment. Pre-pandemic, the gig economy was going strong with young workers looking for a big paycheck and flexibility. Post-pandemic, employers are now finding potential employees want more stability and health benefits – and they will not be hired without them. Businesses with over 20 employees who have relied on independent contractors to fill hiring gaps are […]

A few years ago, companies that relied on their employees to find health insurance through the Affordable Care Act’s individual marketplace found the landscape in complete disarray. While things have finally stabilized for the moment, the practice of grossing up wages to pay for those plans is still not always the best option for mid-sized employers. The onus is on the employee and affordability is out of the company’s hands. But perhaps most importantly, businesses with a 20+ person workforce […]

Insurance brokers can say all they want about the many ways small businesses can offer quality health benefits, but “the proof in in the pudding” as they say. Two of our clients were gracious enough to tell their stories, offering solid examples of how and why small employers offer employee health benefits.  Gettum Associates, Inc According to Jason Gettum, owner of Gettum Associates design & remodeling contractors located in Greewood, offering health insurance to his 13+ employees is important for […]

If you employ under 20 people, you may have found that offering employee health benefits to be cumbersome both in implementation and in cost. This does not have to be the case. The Wharton & Power Insurance Team has been helping local small employers offer high-quality health benefits for over 30 years. The health insurance industry has been all over the place since the passage of the Affordable Care Act. We have been here through it all, advising our clients […]

A ruling by the US Departments of Health & Human Services and the Treasury in mid-2019 changed the game for small businesses looking to compete with large organizations when hiring high-quality employees. The ICHRA program allows employers to contribute pre-tax dollars for employee health insurance which employees can use to purchase a plan. This affordable avenue toward offering sought-after benefits gives small businesses a real chance at attracting and retaining a talented workforce. How We Helped a Local Business Offer […]