Small business owners getting tough with health insurance policy

debate, many small-business owners are struggling to determine an appropriate health insurance plan for their company. And, it has been surveyed that many executives at small firms in the U.S. lack the confidence and expertise to pick a health insurance policy that will meet the needs of their employees and their company’s bottom line.

In a survey of 500 executives carried out by the National Association of Insurance Commissioners (NAIC), 64 percent said they don’t feel confident choosing a plan, and 60 percent said they’re unsure of how their taxes would be affected if they shell out to cover a portion of their employees’ health insurance. Most disappointing among was that one-third of small business executives replied with they can’t afford to offer health coverage for their workers.

According to another recent study, workers’ health insurance premiums have increased more than five times faster than their wages since 2000. Though, none of the health insurance option looks favorable, but ignoring the health policy is not a good idea.

Some guidelines suggested by NAIC to make informed decision about health insurance:

Prior to buying any insurance policy, discuss with several licensed insurance agents specializing in the health insurance needs of the small business. Before choosing a health plan, analysis your employees’ specific health care needs or what coverage they believe particular essential. Understand the