Insurance

Workers comp is determined by the type of job and the hazard associated with that profession.
Restaurant workers are typically on the middle high side of risk from cuts, burns, back and feet problems vs. someone who works as a clerk in an office. Each state varies in the formula as well as unemployment. Take a look at leasing your employees...the employee leasing will handle all of it and get the best rate along with group health insurance you can obtain through them as a group. It's a smart choice to consider soley for the insurance. They can even lease you back to your business as the President, chief cook and bottle washer.

Advantec leasing is a very professional outfit if they are in your area.

Good luck....there are companies that will review your work comp policy and determine if you are getting gouged. Usually they are more interested in the big guys who pay thousands per week.

Thanks Steve. I wouldn't think too many people would go through a personnel service for restaurant work. I would have also thought that would have been more expensive since not only are you paying the employee salary but the extra fee for the service.


Mike

i agree with the leasing aspect. i used to use 'staff leasing', a national company. i had thirty some odd employees, and it was much easier than writing all those checks each week. plus, you can put yourself on it and reap the benefits of health insurance(one of the most important things to a small business family). that helps reduce your turn over cause a lot of young folks are realizing the importance of insurance now a days.
if i had any employees now, i would certainly use a leasing co.
you will save money in the long run, for sure!

For a 40 year old family man with a wife and no kids an individual health insurance policy can run well over $600 @ Month for major medical hospital coverage, minimal doctor visits, and a deductable of $2000 a year, and minimal coverage for drugs, ER visits deductable etc. If you have any pre-existing medical issues, diabetes, and many others you most likely will be turned down and denied insurance. When you belong to a company (IE Leasing Co.) they can provide you with GROUP Health Coverage because you become part of the thousands of employees as part of their lease group. State law requires group policys to cover all pre-existing conditions an employee or dependant may have with far better coverage. Insurance is a really big issue...I know of people that work strictly to get coverage for health problems only a group policy will cover.

I am a licensed health insurance agent for Florida. Any business that can offer a group policy has an advantage. Your work comp rates will be lower through a leasing company than on your own which helps to offset the cost of hiring them to do your payroll, they are a legal human resource department to handle all employee employment issues, create all of your salary records, payroll, taxes, etc. They are really worth it for the small business guy because it lets your focus on your business.

Thanks for the input yall, I really appreciate it.


Mike

Tiki Chef,
Would this be something for 2 old timers, age 52-55, with no other employees? I've wondered what to do if I lost my full time job with benefits. But I'd like to do our BBQ business full time. Can we lease ourselves?
Peggy

Yes, you can lease yourself as a paid employee to the company. Not sure but I think you have to be incorporated vs. a sole proprietor or partnership. The key is group insurance vs. individual insurance. Florida law requires all group policies to cover pre-existing conditions. Individual health insurance is only for healty people, any past medical condition will either not be covered, or they will deny coverage totally. You will still pay a strong premium each month but you can get coverage if you have a pre-existing medical condition.

I have Type II diabetes....all individual policies sold in Florida will deny me coverage.