Have you seen this Capitol One credit card commercial where the guy earned $36K back in cash back awards? He said it was enough to pay for his employees health insurance:
Last year, we spent about $30,000 on health insurance for our employees; so, just about what we got in cash back from the Capital One card.
From what I can tell online this company has 7 to 12 employees. Let’s make the math easy and say they have ten. So, $3000 a year for each employee covers all their health insurance? Something doesn’t smell right here especially when you read this recent article that came out on CNN:
Employers and workers together are spending close to $20,000 for family health insurance coverage in 2018, according to a new Kaiser Family Foundation report.
Although premiums have increased fairly modestly in recent years, the growth has far outpaced workers’ raises over time. The average family premium has increased 55% since 2008, twice as fast as workers’ wages and three times as fast as inflation, Kaiser’s Employer Health Benefits Survey found.Companies pick up most of the tab, shelling out $14,100 a year, on average. Still, workers have to pay an average of $5,550, up 65% from a decade ago.