The BizFilings blog covering business tips and trends.
Startups Need to Consider Health Policies at an Early Stage
Published on Jan 3, 2011
Read 'Startups Need to Consider Health Policies at an Early Stage' at 'Time to Start Up,' the small business blog by BizFilings.
At the earliest stages of a startup's development, one of the last things small business owners want to think about is health. The notion of employee wellness programs and health coverage seems like a mere distraction from more urgent work.
But as health rates continue to plummet in the U.S., causing insurance costs to skyrocket, the lack of any kind of health policy will likely sneak up on burgeoning enterprises. With so much to do and so few resources - both human and material - startups simply cannot afford prolonged absences due to illness. Likewise, they cannot afford to cover rising healthcare costs for unhealthy workers.
One way to stem these risks is by adopting wellness programs and cost-effective insurance policies.
"Get a feel for who your employees are," writes Ryan Hanley in under30CEO. "How many 20-somethings, 30-somethings, 40-somethings, etc.? How many singles, married, single-parents and families? Each group is going to have unique needs to address through health insurance … The health plan you offer should match employee need, not owner need or industry standard."
Ultimately, health policies are about implementing minor distractions now, so as to prevent major distractions in the future.