Avionics News September 2015 - 54

series

Aviation Insurance 101
B Y

J O S EPH

HER R EN

O F

K RU E G E R

&

JA M E S

I N S U RA N C E

Shopping for group
health insurance?
Keep this information in mind

H

ealth insurance after the Patient Protection
and Affordable Care Act became law is
still a huge concern and expense for many
businesses in the U.S. The majority of
Americans receive their health insurance
as a benefit from their employer.
The monthly cost to the employee can range anywhere
from completely free up to 50 percent of the total cost
of the premium. Aside from payroll and taxes, health
insurance is usually an employer's second-largest
expenditure. This has a huge impact on the bottom line
for any company, and it's not something to be taken
lightly.
When a company initially considers offering health
care benefits to its employees, there are two questions I
recommend asking:

1. Why am I deciding to offer health care benefits
to my employees?
Some common answers may include:
A. Health care must be offered to retain and attract a
quality work force.
B. As the business owner, you want quality
coverage for your family.
C. A CPA has advised offering a group health plan
to be used toward a tax deduction.
D. Competitors are offering a group health plan, so
to stay competitive, you need to, as well.
E. A health care plan is a reward to employees who
work hard for the company.
54

avionics news

*

september

2015

2. Can I afford to offer health care for my employees?
The answer to the second question isn't always yes.
When purchasing a group health plan for your company,
you should plan on an average annual increase in premium
of at least 5 percent. You don't want to purchase a plan for
employees and then discontinue the benefit because you
didn't plan on the premium increases.
Answering these
two questions will
EDITOR'S NOTE
help you determine if moving
Joseph Herren is the vice
forward to pursue
president of sales for Krueger
a group health
& James Insurance in North
insurance plan is
Kansas City, Missouri. He has
a good option for
been an insurance agent since
your business.
July 2002 and currently holds
If your answers
the professional designations
reiterate that your
of CISR, AIP and CIC (certified
insurance counselor).
company is in
need of, and can
afford, a group
health plan, here are some items to consider as you move
forward with the process.
Health insurance agents are not all the same. Select an
agent who has your company and employees in his/her
best interest. Interview health insurance agents prior to the
quoting process and ask them questions as if you were hiring a new employee. When interviewing agents, no questions are off limits. If you don't feel confident the answers
you receive are truthful and forthcoming, keep looking.



Table of Contents for the Digital Edition of Avionics News September 2015

Avionics News September 2015 - Intro
Avionics News September 2015 - Cover1
Avionics News September 2015 - Cover2
Avionics News September 2015 - 1
Avionics News September 2015 - 2
Avionics News September 2015 - 3
Avionics News September 2015 - 4
Avionics News September 2015 - 5
Avionics News September 2015 - 6
Avionics News September 2015 - 7
Avionics News September 2015 - 8
Avionics News September 2015 - 9
Avionics News September 2015 - 10
Avionics News September 2015 - 11
Avionics News September 2015 - 12
Avionics News September 2015 - 13
Avionics News September 2015 - 14
Avionics News September 2015 - 15
Avionics News September 2015 - 16
Avionics News September 2015 - 17
Avionics News September 2015 - 18
Avionics News September 2015 - 19
Avionics News September 2015 - 20
Avionics News September 2015 - 21
Avionics News September 2015 - 22
Avionics News September 2015 - 23
Avionics News September 2015 - 24
Avionics News September 2015 - 25
Avionics News September 2015 - 26
Avionics News September 2015 - 27
Avionics News September 2015 - 28
Avionics News September 2015 - 29
Avionics News September 2015 - 30
Avionics News September 2015 - 31
Avionics News September 2015 - 32
Avionics News September 2015 - 33
Avionics News September 2015 - 34
Avionics News September 2015 - 35
Avionics News September 2015 - 36
Avionics News September 2015 - 37
Avionics News September 2015 - 38
Avionics News September 2015 - 39
Avionics News September 2015 - 40
Avionics News September 2015 - 41
Avionics News September 2015 - 42
Avionics News September 2015 - 43
Avionics News September 2015 - 44
Avionics News September 2015 - 45
Avionics News September 2015 - 46
Avionics News September 2015 - 47
Avionics News September 2015 - 48
Avionics News September 2015 - 49
Avionics News September 2015 - 50
Avionics News September 2015 - 51
Avionics News September 2015 - 52
Avionics News September 2015 - 53
Avionics News September 2015 - 54
Avionics News September 2015 - 55
Avionics News September 2015 - 56
Avionics News September 2015 - 57
Avionics News September 2015 - 58
Avionics News September 2015 - 59
Avionics News September 2015 - 60
Avionics News September 2015 - 61
Avionics News September 2015 - 62
Avionics News September 2015 - 63
Avionics News September 2015 - 64
Avionics News September 2015 - 65
Avionics News September 2015 - 66
Avionics News September 2015 - 67
Avionics News September 2015 - 68
Avionics News September 2015 - 69
Avionics News September 2015 - 70
Avionics News September 2015 - 71
Avionics News September 2015 - 72
Avionics News September 2015 - 73
Avionics News September 2015 - 74
Avionics News September 2015 - 75
Avionics News September 2015 - 76
Avionics News September 2015 - 77
Avionics News September 2015 - 78
Avionics News September 2015 - 79
Avionics News September 2015 - 80
Avionics News September 2015 - Cover3
Avionics News September 2015 - Cover4
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