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.
According to Jason Gettum, owner of Gettum Associates design & remodeling contractors located in Greewood, offering health insurance to his 13+ employees is important for two reasons: 1) he feels a moral obligation to take care of his employees in any way we can and 2) he knows that offering health benefits helps attract and retain good employees. He feels both aspects support his company’s bottom line by creating a positive work environment and happy employees.
When Jason reached out to the Wharton & Power Insurance team, we reviewed multiple options that helped him balance cost and quality. In the end, the ICHRA program provided the best solution for his business and his employees. Promulgated in 2019, it allows businesses to contribute pre-tax dollars toward employee health coverage. The ICHRA program offers employees a lot of flexibility on how they use the dollars, places fewer restrictions on which businesses qualify and which employees can participate and allows employers control of their spending.
Jason noted: “The Wharton & Power Team offered up cost comparisons for group health plans and showed us how the budget we had already set to supplement a health insurance plan could be used for our employees. With the money we provide, our employees can apply it all to a healthcare plan, use it all for supplemental insurance, or a mixture of both. ICHRA gave us and our employees great flexibility while allowing us to remain a financially viable company.”
Having started in 1992, Carl McIntyre, owner of Carrington Homes, now has 16 highly qualified employees that he wants to retain. He was also looking for good health insurance for himself and his family. With both goals in mind, Carl reached out to us to find an affordable employee health benefits plan.
One of the largest challenges of small business owners is balancing their time working IN the business rather than ON the business. Often, intensive duties like payroll and human resources land squarely on the shoulders of the person who is meant to be growing the business instead. Here is where PEOs are the perfect solution. Professional Employer Organizations (PEOs) offer a co-employee model that allows small businesses to offer employee benefits normally found at large organizations. W&P has partnered with WorkSmart Systems, an Indianapolis-based PEO that has been serving clients for over 20 years. Along with many plan options for employee health insurance, they offer payroll and HR admin services – both of which were immensely helpful during the pandemic.
After hearing how a PEO could help many aspects of this business, Carl concluded “the other options were not competitive compared to what WorkSmart could offer.” He is also pleased with WorkSmart’s “partner” attitude. “They have a person directly responsible for each issue so I can get my questions answered quickly. For payroll, I call Kristina who answers her phone or gets back to me. Everyone I have worked with has done a great job. I’ve not had one issue or disappointment yet.”