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  #1  
Old 11-03-2014, 08:55 PM
Exact Rototilling's Avatar
Exact Rototilling Exact Rototilling is online now
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Location: Zone: 5B
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Self funded Health and retirement benefits vs working a regular with bennies and PT.?

Seems Lawnsite is loaded with those who want to quit jobs with pretty solid healthcare plans and retirement benefits and now want to work in the green industry.

So...for those who have worked the numbers...how much more profit does one need to make to match some of these benefit plans offered by many regular jobs...?

Year back when I worked my other business exclusively the insurance plans for an individual and/or family were insanely expensive and that was with heavy deductibles. I decided to take chances and not have insurance.

Now that I'm 50 I'm feeling a bit behind the power curve.
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Old 11-03-2014, 10:08 PM
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Cedar Lawn Care Cedar Lawn Care is offline
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Join Date: Jan 2013
Location: Utah
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20k in benefits where i work. They don't even match a 401k. That's just health insurance, 40k life insurance, and money towards pension.
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  #3  
Old 11-04-2014, 06:36 AM
jc1 jc1 is offline
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Join Date: Nov 2001
Location: The Real South Jersey
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When I first went full time health care cost us (me,wife,child) $450 per month.
Now same coverage we pay $1250 per month.
That equates to raising prices $3.50 per week for our customers with none of it going to the bottom line.
$6.95 per hour is what I need to generate just for health insurance. Provided I work 60 hours per week during our season.
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  #4  
Old 11-04-2014, 08:18 AM
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grassmonkey0311 grassmonkey0311 is offline
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Join Date: Feb 2013
Location: MD/NC
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I'm not really one to follow health care or benefits...but I wanted to add my 2 cents.

I'm fortunate enough that my healthcare is provided to me by the Veterans Affairs due to some combat related injuries. But, based on what I've read and talked to people, there are different options. A middle aged man is a low health risk, many are opting out of Obamacare and using Urgent Care centers because of the lower costs. Older folks are opting for medicare and seeing if they qualify for it. There is also the clause about a past illness can't disqualify you....so whats stopping you from opting out, then signing up for Obamacare if you get sick? Many Doctors are even now taking advantage of the new system. They are charging a flat rate fee per year per patient and treating them whenever they need it. My brother, a doctor, was saying they will earn more and it's more steady.

As for benefits, I had worked at a previous job where benefits were great. I had a "profit sharing" bonus which was on average a yearly lump sum of about $7K to $10K. They also matched 100% of your 401K. In addition to that, as managers, we were provided with company cars and gas cards. We were authorized to use the company cars on weekends we were off work, providing we payed for our own gas. After a few years of this, I learned my lesson the hard way....they are "benefits". No guarantees. They can be lost at any time. And they were. The "profit sharing" bonus was halted for everyone. The 401K match was dropped to 25%. The company car had a gps installed to track us to make sure we didn't take advantage of gas. When we were told all of these things were stopping/reducing, some guys in the room had a ghost white face. One co-worker quit shortly after and moved out of state. He let his house foreclose.

So as the healthcare plans are rising for companies, either the company picks up the cost, or the employee. Many companies are changing full time employees to part time so they won't have to cover health insurance. Imagine getting that notice As taxes increase or minimum wages increase, companies have to pick up the extra cost, and the employees suffer.

Benefits and health insurance are not what they used to be. I'd much rather try and depend on myself and my contribution to my company to cover my costs than to trust another company like in the past.
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  #5  
Old 11-04-2014, 08:33 AM
larryinalabama larryinalabama is offline
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Join Date: Jan 2008
Location: Ragland Al
Posts: 11,382
My health insurance will be cancelled Dec. 31, and I wont know what I can get until Nov 15, at this point in time Im not even sure I will get any. Im pretty sure my only option will be Blue Cross, as the other carriers in my state are quitting due to Obama care. Its a headach for sure, thanks liberals democrats.

Real Estate is a good option for building retirement. I also plan on doing a few yards until I expire.
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  #6  
Old 11-04-2014, 09:27 AM
32vld 32vld is offline
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Join Date: Feb 2011
Location: LI NY
Posts: 3,273
Retirement planning is I will plan when my business is making enough for me to afford saving for my retirement.

When I had health insurance (2006) it cost my employer $11,000 for family coverage.

I have no HI because I am too rich to get assistance, yet have no money left over to pay for HI.

I had a job in 2006 that paid $80,000 then would be paying $150,000 now, lots of time off, Gold HI, pension 50 to 68% of gross.

I would not give up any job that good to ride a mower.
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Old 11-04-2014, 09:57 AM
larryinalabama larryinalabama is offline
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No telling how many people will loose health care insurance because of Obama care.
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  #8  
Old 11-04-2014, 01:29 PM
eggy eggy is offline
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Join Date: Mar 2000
Location: Seymour Indiana
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Seems the trend is having a high deductible, basically just in case something major happens. Kinda funny they want us to have health insurance but all most can afford is the high deductible... So we don't ever go to the doctor as needed
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  #9  
Old 11-04-2014, 01:49 PM
larryinalabama larryinalabama is offline
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Quote:
Originally Posted by eggy View Post
Seems the trend is having a high deductible, basically just in case something major happens. Kinda funny they want us to have health insurance but all most can afford is the high deductible... So we don't ever go to the doctor as needed
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Insurance is to protect your assets, not buy your asprins.
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  #10  
Old 11-04-2014, 10:17 PM
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PROCUT1 PROCUT1 is offline
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Location: TN
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Insurance is manageable now. I have it for the first time in years. A much better plan at 30% of what I was paying before I couldn't afford it anymore.
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