Small Businesses and the Benefits of Offering BenefitsWritten by Anna Dorbyk
Small businesses comprise over 97% of employers in Canada and United States. Despite significant number of small businesses, these smaller companies tend to offer fewer health-oriented programs than larger corporations. Research indicates that today’s employees are more likely to accept a position in a company that offers an attractive benefits package. The necessity for small business health insurance is becoming a more pressing matter for employers. The evidence garnered from employee satisfaction surveys given in over 1000 large and small businesses in Canada clearly supports importance of health benefits. In addition to being a determining factor in decision to join a company, many employees stated that being offered health benefits directly impacted their performance at work. Employees indicated that having health coverage gave them an increased sense of wellness, knowing that they were protected in event of illness or emergency. As a result, employees felt that they were less likely to miss work due to stress (a decrease in absenteeism). The survey results also indicated that employees were more loyal to their company when they felt that they were adequately provided for. Small business health insurance is easily implemented. It is prudent of employers to carefully assess needs of their employees before opting for a benefits plan. The plans may be offered as optional in order to appeal to only those who require health insurance. For interested employees, flexible benefits that are tailored to their individual needs may also be offered.
| | Joint Bank Accounts and DivorceWritten by John Mussi
Here are some useful tips on joint bank accounts and divorce. If you've recently been through a divorce - or are contemplating one - you may want to look closely at issues involving joint bank accounts. Joint Bank Account: Your income, financial assets, and credit history - and your spouse's - are considerations for a joint account. No matter who handles household bills, you and your spouse are responsible for seeing that debts are paid. A creditor who reports credit history of a joint account to credit bureaus must report it in both names. An application combining financial resources of two people may present a stronger case to a creditor who is granting a loan or credit card. But because two people applied together for credit, each is responsible for debt. This is true even if a divorce decree assigns separate debt obligations to each spouse. Former spouses who run up bills and don't pay them can hurt their ex-partner's credit histories on jointly-held accounts.
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