Health Insurance – Better Than Cash

As many of you know, before I started working in the Financial Services industry I spent 19 years as a marketing rep in the Music Industry, the last 12 at the same company.  During that time I never had a health plan.

When I started I was in my late 20s and the lack of access to things like routine dental care and the odd prescription really wasn’t that big of a deal to me.  Health plans weren’t for young health people like me; at least that’s what I thought.  That is until my wife was diagnosed with a chronic condition, requiring approximately $200 per month in prescription drugs.  The resulting financial strain on our new marriage was at times unbearable.  Not to mention the fact that neither of us saw an optometrist or dentist for over ten years.

That’s why, when I became a Financial Advisor I started talking to small business owners about the benefits of providing health insurance for their employees.


A recent survey from Manulife Financial shows that while most companies believe they are responsible for the health and wellbeing of their employees fewer than 45% of them actually provide any form of health plan.  Cost is a huge factor but most small business owners just don’t know how to optimise the plan and how with the help of a good accountant they can balance the cost against some very generous tax advantages, for both the employer and the employee.  Not to mention the cost of retraining when employees leave for greener pastures at companies who get it.

For many employees, a well designed benefits plan can be better than cash.  For more information on how best to structure a health plan for your employees feel free to write to me at and click the link here to read more on the Manulife Financial Small Business Research Report.

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