It’s no surprise that in today’s difficult economy, many people are finding it hard to make room in their budgets for the basic essentials in life. This is no different for business owners trying to do the right thing and maintain their health and life insurance plans for their employees. Life insurance and health plans are costing more and more each year with many plans becoming simply too costly to keep for many smaller businesses. When it comes down to a matter of dollars and cents, many business owners are faced with the decision of cutting life and health insurance coverage for their employees instead of laying off some of those employees to keep costs down.
Economy, Rising Life Insurance Premiums Squeeze Employers’ Bottom Lines
The hard economic conditions that many businesses face now are directly related to stagnating sales and industry slumps that affect a business’s bottom line and operating costs on a weekly basis. The only way that many businesses – especially smaller ones with 2-30 employees – can handle the matter, is to really take a long, hard look at what’s important.