The Price of Health: Settling Fair and Complete VA Employee Benefits

An article on the website released last December 16, 2013 discusses the sensitive topic of employee health benefits. Due to the impending enforcement of the Patient Protection and Affordable Care Act (unofficially dubbed “Obamacare”), many workers have become concerned about paying higher premiums just to retain their health insurance plans. The article suggests that businesses might want to completely drop their health coverage plans in order to take some financial load off from their employees. writes:

The Affordable Care Act caps what an individual worker can be made to contribute to an employer-sponsored health plan–the employee’s share cannot legally be more than 9.5 percent of their individual W-2 income. There is, however, no affordability cap on coverage for additional family members.

Say one of your workers makes $35,000 year, has a non-working spouse and two kids. Average-priced employer coverage for her whole family would eat up about 12 percent of household income. If this same family went to the public health-insurance exchange, though, they would qualify for subsidies based on household–not individual–income. (Individuals and households with income up to 400 percent of federal poverty would typically qualify for some kind of subsidy.) As a result, they could buy a Silver-level family plan for just $1,373 per year, or about 3.9 percent of household income after subsidies.

While it does seem economic to do away with health coverage, there’s no denying how enticing a package can be for prospective employees. A company should take responsibility for its own people, and having a system for benefits can show how much a business cares for its own. Flexible VA employee benefits offered by companies like Financial Brokerage Services are perfect for corporations that look out for their personnel’s welfare.

For some workers, a health insurance plan is a clincher for a job opportunity; there are even those who choose and stick to a job purely for such benefits. Health insurance plans can help employees and their families receive subsidized medical care, as offered by the company. In return, employers can potentially increase their productivity with their healthy and fulfilled workforce.

Indeed, health coverage can be attractive enough for employees, yet reforms in healthcare laws can be worrisome for employers looking to maximize their income. Businesses should coordinate with reliable insurance companies in order to secure affordable and inclusive coverage plans. Virginia group benefits, for instance, will have lower premiums compared to regular plans.

(Article Excerpt and Image from Why Some Workers Will Be Glad You Dropped Health Coverage,, December 16, 2013)