If you’re a partner at a law firm, then being an attorney is not your only focus: running the firm takes up a large portion of your time and energy. It’s probably why you’re reading our blog. You are interested in shared law office space (like we provide at Amata Law Office Suites) because of its cost-savings and extensive, built-in, support staff for your firm.
At Amata, we want to ensure that we help support your business knowledge so you can run your firm well, and focus on practicing law. Today, we’re tackling one of the most fraught areas of running a law firm: selecting health insurance.
The truth behind small business health insurance…
After reading The Price We Pay by Marty Makary, M.D., our CEO & Founder, Ron Bockstahler, dove deep into the world of health insurance and uncovered some interesting information: small businesses have more comprehensive and affordable health insurance options than they are often led to believe. For instance, many small firm attorneys would be surprised to learn that as a one-person business, they have access to group-health insurance.
If you have individual health insurance, you may have learned the hard way that the individual market lacks stability: the plans are often shifting & changing, and prices are prone to jumping (many see this happen yearly!). The group market, on the other hand, is lower cost and provides more stable insurance options. The plans do not change often, either in design or in price. They also renew each year, and are less susceptible to drastic federal and state legislative changes.
How is it possible that a one-person business can have access to something labeled “group”?
Technically, it is referenced as a small group, and there are restrictions. Since many of us infer group as including a large number of individuals, we don’t look into whether group insurance is an option for us as small businesses and default to the individual insurance options. For many small business owners group insurance is not only a viable option, but the best option. The benefits of group health are so large that business owners shouldn’t assume they won’t have access without talking to an experienced insurance professional first.
What are the benefits of going with group insurance?
Aside from the lower costs and increased stability, providing good health insurance both for yourself and your employees can create a better work atmosphere. Health insurance is one of the most contentious topics in America right now, but everyone can agree that they want good insurance. Being the firm who can provide great benefits will help bolster your employee satisfaction, and can boost not only staff retention but overall happiness – both of which will bolster your firm’s effectiveness.
Does your firm qualify for group insurance?
Answering this question is worth the time investment. You can either contact your existing insurance people, or if you’re an Amata Law Office Suite client, you can attend our special education event “Insurance Education: What they don’t tell you” hosted by Alexandra Eidenberg of The Insurance People and Richie Marrero of 360 Benefits. This event takes place at 77 W Wacker on Thursday, February 20th, and is open to all Amata Law Office Suites clientele. You can RSVP with us at email@example.com.
In only an hour Alexandra and Richie will give a crash course on the insurance options you don’t know about, and you can pick their brains to see if any of these options are good for your firm. If you want your questions answered, please RSVP. For anyone looking to network, cocktails and appetizers will also be available post-event.