FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Brought to you by
What is your Health Care Coverage Strategy?
Health care coverage is a big expense for small businesses - find out how to lower costs long-term instead of every 12 months.
Brought To You By JewelersHealthCare
Health care is probably one the most expensive line items on your balance sheet. For decades now, small businesses have been conditioned to look at health insurance in 12-month intervals, instead of with a long-term strategical lens. What if there was a way to look at health insurance as a vehicle to sustainably lower long term operational costs?
Most employers have a strategy for growth, a strategy for sales, a strategy for their workers comp/business insurance and everything in-between, but not health insurance. Large companies have the resources and infrastructure on their side to help control health care costs. They also have carriers and brokers at-the-ready offering them preferential treatment, all while small businesses question if they can even afford to offer health insurance.
As a small business, it's understandable that you have not had the time or the resources to dedicate to establishing and adhering to a strategy to lower your health care costs. Luckily, you now have the tools and the expertise to do so! The question isn’t how do I pay the lowest amount over the next 12 months, but what do I do to consistently lower my long-term costs in the coming years.
One way to start lowering health care coverage cost is by looking at plan options like level funding. Level funding is an out-of-the-box risk financing vehicle that is a steppingstone between fully insured and self-insured options. Level funded plans typically include three main components: administrative costs, individual/aggregate stop loss coverage, and claims. (We know this sounds confusing; we promise to explain.)
Level-funded plans give small businesses the freedom and autonomy of self-insurance with the financial protection of a fully insured plan. The company funds their small claims to the carrier monthly at their maximum liability. If the insured exceeds that maximum, then the carrier steps in and covers the payments. This is known as your ‘stop loss’.
At year end, the carrier does an audit of the insured’s incurred small claims vs the amount that was funded throughout the year to see if there is a surplus or deficit. If there is a surplus the employer can receive some of the unused claim funds back! A team of proactive experts, a bundle of supplemental tools and employee educational content throughout the year can help you adhere to your strategy and see potential return of claim funds.
Level funded plans deliver several benefits for small employers: cost savings, plan design flexibility, less red tape bureaucracy, lower health insurance taxes (employer facing) and access to claims data. How can this help me realize the strategy I need?
Claims are basically the holy grail to determine whether your insurance carrier is profiting off your employees or whether you are costing them money. This is why most carriers refuse to share this information if you are a small business. When you have access to your claims, it makes creating a health care coverage strategy simple.
Level funded plans offer flexibility that is unmatched by its fully insured counterparts. There are less restrictions on what an employer can do with a level funded plan, offering you flexibility with plan designs. By having more freedom with a level funded option, you are more likely to have plan continuity year-to-year which would not restrict access to care for your employees. Furthermore, by funding your claims in small increments (without paying the fully insured overhead of an insurance carrier), you get increased flexibility with improved cash flows throughout the year. If those things weren’t enough, level funded plans also allow employers to lower their state health insurance taxes!
If you are a small business and are tired of the cookie-cutter overpriced fully insured options, level funding could fit your needs. At JewelersHealthCare, you have exclusive access to learn more about your health care coverage options and speak with a licensed consultant to see if level funding could help you build the right health care coverage strategy.
More on Independents
The Latest
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
Weekly QuizMay 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
TechnologyMay 29, 2025
GemFind Launches AI Product Description SoftwareGemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.
MajorsMay 28, 2025
Graff Unveils New Las Vegas FlagshipThe 3,300-square foot location is the jeweler's largest store in North America.
CrimeMay 28, 2025
8 Convicted in Kim Kardashian Jewelry Heist TrialAging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.
CollectionsMay 28, 2025
NY Liberty’s 2024 Championship Rings Honor Historic WinThe WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.
MajorsMay 28, 2025
Andrew Rickard Named JBT PresidentA longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.
MajorsMay 27, 2025
MJSA to Become Part of Jewelers of America The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.
AuctionsMay 27, 2025
Al Capone’s Patek Philippe Pocket Watch Back Up for AuctionThe platinum and diamond watch is part of Sotheby’s upcoming Important Watches sale.
AuctionsMay 27, 2025
182-Carat Paraíba-Type Tourmaline Sells for $487K Recovered in Mozambique, “The Kat Florence Lumina” was part of Bonhams’ Hong Kong jewelry auction held last week.
TrendsMay 27, 2025
Amanda’s Style File: Candy-Colored GemstonesGet a taste of the delicious candy-like gemstones in this Amanda’s Style File.
CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ RingFrom Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.
GradingMay 23, 2025
GIA Updates Pearl Classification SystemThe lab has adjusted the scale it uses for nacre grading.
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the SpotlightSponsored by GCAL by Sarine
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO ShowDavid Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.
FinancialsMay 22, 2025
Watches of Switzerland’s Full-Year U.S. Sales Climb 14% The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.
Events & AwardsMay 22, 2025
Jose Hess Design Awards Announce JudgesThe nonprofit elected five judges who will decide the winners of its design competition.
MajorsMay 22, 2025
MJSA Releases 2025-2026 Buyer’s GuideThis year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.
CollectionsMay 21, 2025
Bulgari Highlights Its Colorful Past in Phenomenal ‘Polychroma’ CollectionThe jeweler’s high jewelry collection features extraordinary gemstones, like a 241.06-carat emerald and the world’s fourth-largest spinel.
