Gravie in the News: What Entrepreneurs Should Know About Health Benefits

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On November 20th, 2019, Starting Up North published an article written by Gravie's CEO, Abir Sen, on the challenges entrepreneurs face when it comes to managing health benefits. In the article, Sen provides considerations as to how entrepreneurs can make the process easier on themselves and give the best option for their employees.

"There are three things that startups in any industry have in common that they need to do to survive: stay financially solvent, make customers happy and hire great people. Despite the optimism of most entrepreneurs, obstacles to success seem to be lurking around every corner. It’s not just paranoia. The Bureau of Labor Statistics has stated that 50 percent of all small businesses don’t survive past year five. The largest existential threat, according to an annual survey from the National Federation of Independent Business, is the cost of health insurance. This issue isn’t new. In fact, it’s been the number one issue since 1986! The costs of providing benefits are linked both to financial solvency and hiring (and retaining) great people, so no wonder it’s important."

Read the full article here.

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Topics: Health Insurance, Gravie, Employee Benefits, Health Benefits, Defined Contribution