December 5, 2006

Health Insurance

By Paul Bieber

Hello there in glassland,

I received an interesting wake-up call today as I was purchasing medical insurance for my wife and myself. I have been on COBRA, courtesy of Oldcastle Glass(by the way, a sincere thanks to Oldcastle Glass) since my retirement last year. The insurance agent was very gentle today, but I still left with a headache. Replacing the generous policy we had, on an individual basis, costs close to $17,000 per year. Individual insurance is always more expensive than group insurance, and yes, tax benefits help. The point of this is: If you own a business and give your employees health insurance, or even cover a part of it, be sure to tell you group what you really pay. It is probably the largest expense you have that you don’t have the ability to control. If you are an employee who gets some or all of your health insurance, next time you see the boss, just say thanks.