You can’t turn on the TV without hearing ObamaCare, or RomneyCare… You know–the plans from politicians that hope to force companies to secure health insurance for their employees? The downside, of course, is that this idea comes with an astronomical price tag, which has many small business owners nervous. But what if we, as small businesses, could prove to “Big Brother” that we were providing for our employees in a unique way that satisfied the needs of families but didn’t hurt the bank account? Might that work even better? We think so!
Tapping into an Alternate System
Take Joey Miller, for instance, who has five employees working at his flooring company. Instead of paying their medical insurance fees of $700/month with cash ($3500/month), Joey has devised a plan to save his cash and spend the dollars he’s earned in his alternate economy–the world of barter.
In Joey’s barter exchange, he has access to dentists, doctors, urgent care centers, blood testing labs, chiropractors, eye care specialists, wellness /nutritional centers, diagnostic clinics, and the like. When one of his employees or their family members has a medical need, they simply visit one of the medical or dental professionals in the barter group, and Joey pays the bill with his virtual dollars. It’s as easy as that!
Where does Joey get his virtual dollars, you ask? He’s earned them by doing flooring work for customers on barter. The only cash that goes out his door is the 6% fee he pays to the barter club for each transaction. Here’s an example of what he might spend in a given moth:
|Employee||Service||Barter Cost||Cash Fee|
|Jane M.||Chiropractic||$ 200||$12|
|Todd C.||Podiatrist||$ 400||$24|
|Melinda Z.||x-rays||$ 500||$30|
So, instead of paying the $3500/month in cash that a forced medical plan would mandate, Joey pays $2500 in barter bucks, plus only $150 of his hard-earned cash. In this way, Joey can afford to keep all five of his employees and not shut his doors–even in a down economy.
So what about you? Could your small business benefit by switching to the world of barter as your main medical plan? Sure, “BarterCare” won’t cover everything for everyone–and some employees will want to have a backup major medical plan–but it’s a great start for companies looking to stay prosperous and retain their staff in tricky times. And it’s a terrific way to support other businesses who have also said yes to a practically recession-proof alternative economy.
“Creativity is the ability to see relationships where none exist.” ~ Thomas Disch