Small business owners and entrepreneurs throughout the US are facing impossible choices because of the skyrocketing costs of health insurance premiums, and, in many cases, the lack of access to coverage. Here are some of their stories.
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Retirement Aspirations | New York, NY
Benefits Specialist Aspiring to Insure Employees Through Affordable Care Act
Greg Hankins
Retirement Aspirations
New York, NY
Founded in 2003
Full-time employees: 5
When entrepreneurs need advice on employee retirement packages, they turn to Greg Hankins. He owns Retirement Aspirations—a retirement consulting firm in New York—and along with his staff, provides in‐depth presentations on options for 401k benefits, pensions and tax credits.
Greg knows small business owners want to do right by their employees and offer benefits, because he hears just that from them everyday. But it’s a personal issue, as well. Greg is in the process of trying to provide insurance for his 5 employees.
He’s searching for an insurance policy that offers 80/20 coverage, where he covers 80% of the premium cost and the employee covers the rest, but has found that this is easier said than done. Prices are high and choices are limited.
Still, Greg is determined to make it happen. He believes a happy workforce results in a healthy bottom line.
“By offering healthcare to my employees, it will show that as a business owner I care for them, and in return they’ll be more dedicated to the business.”
Greg believes the Affordable Care Act will make health insurance more accessible and affordable. Along with the tax credits he’s excited about qualifying for once he starts offering coverage, Greg hopes that once the exchanges take effect in 2014, his range of plan options will grow.
