Blog
October 25, 2021
Large and small businesses alike are receiving their employee health plan renewals this month. Costs rise each year, and 2021 is seeing a 9-12% increase range across the board. Open enrollment is a time for reevaluation for both you and your employees. If you are looking to offer a different solution for health benefits, a Professional Employer Organization, or PEO, may be your best option. What is a PEO? A PEO offers a co-employment model for its members, allowing employers […]
September 9, 2021
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 […]
August 11, 2021
As we have been talking to Indy small 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 under 20 employees who have relied on independent contractors to fill hiring gaps […]
July 28, 2021
How can you grow your business without the workforce to support it? That very question has been plaguing many of our clients during the recent shortage in the labor force. According to the Harvard Business Review, offering flexibility for workers who have to commute and ensuring your salaries are on par with market rates are just two ways you can boost your chances of attracting employees. However, one of the most important things you can do is offer a rich […]
July 19, 2021
These days if you have 20-49 employees, offering employee health insurance is expected and frankly, necessary to attract and retain a quality workforce. However, group health plans can be expensive and seem out of reach for small businesses. Here is where a level premium plan may be a good option. In the group health world, there are two ways to fund a plan – fully funded by the insurance company, or self-funded by the employer. In the fully-funded model, the […]
June 16, 2021
When we talk with our small business clients about their largest challenges, finding good employees is at the top of the list. Small employers need to offer employee health insurance in this challenging hiring market. Beyond being able to compete with other employers, there are more key advantages to providing benefits: 1) Employee Satisfaction – Company culture is an important factor in enhancing employee engagement, productivity and performance. Organizations that support both their employees’ professional and personal well-being contribute to […]
June 11, 2021
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 […]
June 2, 2021
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 […]
May 18, 2021
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 […]
April 1, 2021
What a crazy couple of months we have had! From 10 inches of snow in a few hours, to 70-degree days to a huge hailstorm all within a few weeks. Indiana weather has never been predictable, but 2021 has been especially unreliable. With two incidents that could have created significant storm damage to your home, we thought it would be helpful to share some advice from a home improvement expert, Rob Yeary of Universal Roofing. “You never know when A […]
March 17, 2021
Many BAGI members come to us when they feel they can begin offering employee health insurance. Carl McIntyre of Carrington Homes reached out in 2019 for two reasons: “To attract and retain good employees, you have to offer a competitive package that includes health insurance. And I wanted good health insurance for myself and my family.” Carrington Homes has been around since 1992 and now has 16 employees. We took him through the many options available through his BAGI membership, […]
February 8, 2021
The Wharton & Power Insurance Team has been partnered with BAGI for over 10 years to help provide members with access to employee health insurance options. With three programs available to small businesses, we work with BAGI members to choose the plan that best suits their situation. Jason Gettum of Gettum Associate Inc offered a reflection on his decision to offer health benefits to his employees and the Wharton process. “We wanted to provide a health insurance plan to our […]