High Cost Of Benefits
In today's tight labor market, most business owners, small business included, recognize they have to offer better salaries and better benefits to attract and retain employees. Currently, 44 percent of the uninsured people in the United States are owners of companies that have fewer than 50 employees, according to the Cato Institute.
"I would have bad teeth and poor health if it weren't for my wife," said CPA Paul Hense of Grand Rapids, Mich. Hense is covered under his wife's plan, but doesn't have one for himself because the cost is prohibitive, he said. He does, however, cover the three people who work for him. Small business owners when offering employee benefits is "parity." The reason is because They want the same consideration big business gets when it comes to offering benefits to employees. Instead, small business owners plan to propose that the law be changed to allow them to deposit up to 25 percent of their salary in 401(k) plans, which would make it worthwhile to many small business owners who currently do not participate in a 401(k) plan because right now you can only deposit 10 percent.
I do not understand why only 44 percent of the uninsured people in the United States are owners of companies that have fewer than 50 employees I believe they should all have insurance. I believe employees should be able to deposit as much of there salary as they feel they need to in there plans. If I currently had a job I believe I would stand somewhat a role if it was a part time job but I do not work right now so I do not really have a part in this. To make a stand and try to raise it I need all the...