Dennis S. Goldstein of CBIZ Guest Columnist
BREAKING NEWS: Health Insurance and Health Care are NOT the same.
Contrary to what all of our friends in Washington say, health insurance does not deliver healthcare. Furthermore, until we discover a means to control healthcare costs, Insurers, Employers, and Consumers will not be able to control health insurance costs.
So, this leads me to a series of questions:
- If you are an employer, why do you offer health insurance to your employees?
- What do you do differently when purchasing these policies for your employees?
- Are you aware that these policies are the second largest expense your company has after payroll (assuming you are offering meaningful coverage)?
These are some of the things I would be asking myself, if I was the one responsible for making the decisions on the coverage that I will be providing to my employees.
The answer to #1 is that you exist in a very competitive world and you are looking to provide benefits through insurance coverage to the folks responsible for helping you build your company. You want to attract and retain good talent. You want to protect them in the event of an accident or sickness, so that they don’t suffer an enormous financial loss.
Providing benefits to your employees is an opportunity that should not be taken lightly. Yes, it is expensive, but it goes a long way to help you build your culture, as well as your brand. As a matter of opinion, in the 30 years I have been in this industry, nothing builds a culture like your health insurance benefit. It leads to employees perception of their employer. It is always a good practice to have your employees happy and healthy as that leads to greater productivity.
Dennis is responsible for the management of the Benefits and Insurance division for CBIZ in Florida. He brings extensive experience in the industry on the carrier side as well as a consultant and broker. He manages and services a broad portfolio of national and Florida clients in the public, private and not-for-profit sectors.
Dennis S. Goldstein
CBIZ Benefits & Insurance