– Ryan Hanley is a Commercial Account Executive for Guilderland Agency Inc and author of the “Albany Insurance Professional” blog located at www.RyanHanley.com. This article originally appeared on Under30CEO. The views expressed are his own. –
For an entrepreneur, skimping on insurance – especially health insurance – is like playing Russian Roulette with your future.
At no time in your business’s growth will the health and wellness of employees be more important than the startup years. Think about the set-back in growth if the founder of a second year business became ill and had to miss a month. A terrifying scenario for most young businesses.
Now think about that same situation coupled with the stress of the same business founder coming straight out of pocket for all medical expenses. I’ve seen this situation where money earmarked for business growth is diverted towards medical costs and it’s not pretty.
Don’t buy into the misconception that health insurance is a luxury just because the price tag makes you sweat. Do not think in terms of price, think in terms of cost.