Author: Jennifer Brazer

Many cloud computing users believe that different companies have different needs for cloud computing. Customized cloud infrastructures and services are the only way to make the most of their cloud investments.

Gartner predicted that in the next two years, half of the cloud companies would implement hybrid implementations. Cloud technologies are infiltrating organizations at all levels. It also means that cloud computing is nothing in black and white. Companies are implementing various cloud solutions to meet their business needs best, organizational infrastructure, and ensuring safe bookkeeping of their organizations.

According to Steiner, “There’s no magic solution that delivers the best cloud computing outcomes for your business: every organization needs to determine which data and departments can maximize the benefits of cloud solutions and have a positive impact on profits,”

Steiner further explained that while the customization and optimization of cloud deployment require several reasons, security issues are among the most critical factors. He also noted that different countries have different security rules. Companies that work in different geographical areas must recognize and respect all these rules.

There is no magic solution that delivers the best cloud computing results for your business. Each organization must determine which data and departments can take full advantage of the cloud solution and positively impact profitability. As companies create the cloud infrastructure and solutions that are best suited to them, a user must believe in the trend toward more significant growth in cloud computing is personalization.

One of the main reasons for creating the cloud is the different safety rules for companies operating in many international markets. Companies worldwide monitor the cloud market and include more customized cloud networks to establish a security and supervisory environment.

For highly regulated industries, such as financial services, government, or administrative services, solutions often configured according to national and industry compliance standards, such as portability and liability in the Health Insurance Act (HIPAA), Frame Safe Harbor or Sarbanes-Oxley. (SOX).

Customized Clouds

Customized clouds also provide companies with complete control over their data, rather than giving third-party energy providers and potential access. With the growing concern about the impact of the cyber-car, companies are reluctant to provide commercial materials reserved for external parties. By offering data not saved to the public cloud, companies can create a hybrid cloud that best fits their data security.

Mobile Clouds

The mobile domain is the third aspect that is in cloud computing. With mobile-based cloud computing among the higher number of users, including employees, the more significant security risks are due to the greater access to the data.

However, cloud computing integrates mobile-based cloud computing as simple and easily manageable. Every person can interact and operate with mobile clouds. The individuals’ productivity and performance get enhanced using mobile domains incorporated into cloud networks.

It is evident from the case of many famous cloud computing companies, such as Google and Microsoft. These companies have implemented innovative features and free storage on their cloud networking platforms. This implementation keeps its customers independent and safe, rather than providing the ability to configure the cloud infrastructure with multiple users and service providers.

This trend in user cloud computing continues to grow. Vendors that do not offer customized options for customers will begin to see revenue decline. By moving to cloud computing, an organization can benefit from the latest IT resources and redundant servers without worrying about a large amount of initial investment or technical knowledge.

Because all data is stored in the cloud, it is much easier to back up and restore than store it on a physical device with all customized options.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Establishing the value of merchandise is complex and can cause headaches for entrepreneurs.  With that in mind, here are ways you can learn how to price your products and services. Keep reading!

What is the price of a product or service?

Knowing how much you should charge for your work is the result of a broad analysis of essential factors, including:

• Cost: gather all the essential components needed to manufacture the products, including taxation, marketing strategies, and distribution. 
• Competition: the prices of your competition will help you understand the dynamics of the market.  Despite the freedom to set values, market competition will force a balance between prices.
• Consumer: the economic scenario will also have a great influence on price setting. Even if your products or services are better than the competition, the consumer is not always willing to pay the price requested. For this reason, study the target audience, their consumption habits, and their purchasing power.
• Added value: all merchandise gains support when it meets the needs of customers. It is adding value when the company manages to captivate its audience and retain it. This relationship of trust also influences the final price.

How to establish the sale price of a product?

The price policy varies according to the type of company and involves subjective conditions. However, some actions are useful for any model. These are:

Identify your costs and expenses

The first point you must evaluate when determining the value of your products or services is the amount paid up to the point of delivery to the consumer; such factors will directly influence the amount charged.

Expenses include general expenses and can be difficult to individualize. They are the necessary expenses for the full operation of the company, employee compensation, marketing strategies, and office materials.  In short, items that do not directly contribute to the final business activity.  However, they cannot be forgotten.  Already the costs comprise more specific and divisible aspects, such as supplies, equipment maintenance, water, electric power, travel of employees, cleaning materials, and everything related to manufacturing.

The costs and expenses can also be classified as either Fixed, which are not modified depending on the volume produced or sold, or Variables. The consumption is modified according to the quantity of the items.

The entrepreneur should keep in mind that a large volume of sales or an extensive list of customers is not synonymous with profit. There is a possibility that your products are being acquired because their price is lower than that of the competition; this can be very dangerous for your venture’s financial health.

Analyze the market

Market conditions can never be neglected or put at the end of the list of priorities. Therefore, before setting your price, you must observe the price that your opponents are implementing because that also serves as a parameter for your final pricing decision.

It is common for entrepreneurs to reach more competitive amounts in certain campaigns, much lower than the market.  However, charging less than the competition cannot be a constant focus where it inhibits making a profit. That is why a detailed analysis is so important.

Fix the profit margin

The profit margin is what brings true meaning to the existence of any company. What is the logic of charging only enough to cover expenses? If your billing allows only what is necessary for the company’s survival, it is time to reassess your business plan.  Profit is the difference between the turnover obtained by sales of a product or service and the costs to execute the work.  However, deliberating on the profit margin is not simple; maintaining balance is manifested as the most appropriate decision. What is the use of wanting to earn a lot and charging more than the competition if your products are stuck in shipping? What is the use of reducing prices to increase if it ruins the business’s financial stability?

How to know if the value paid for my services is fair?

Establishing the prices of services can be measured by objective elements, such as expenses to make work feasible: taxes, electricity, water, salaries, materials and equipment, displacement, internet, telephone, etc.

Added to these factors are the subjective aspects, which must also be considered in the final value.

In this context, the difficulty of the demand is inserted and an estimate of the time necessary to complete the task, as well as the differential in the quality of the workforce.  The last step is to estimate the percentage of the desired profit.

The collection for services is done in 3 different ways:

• Per fee: monthly remuneration for the total of the services or amount of hours worked.
• For work: an anticipated estimate of each service based on its duration.
• Closed package: the price for performance of the activity is measured based on the number of hours and previously paid. In case it is not enough to conclude, the surplus will be charged separately.

What are the benefits of setting prices effectively?

Reduces business risks

As mentioned, a high volume of transactions does not ensure financial stability, much less the organization’s success. Selling more implies the increase of resources coming out of the box.

When we do not establish prices correctly, the risks for the venture to fail or suffer from market alterations are high. The business world is cruel to those who are not prepared, and knowing how to stipulate a correct price is important to stay on top.

Increase competitiveness

Regardless of your industry, competitiveness is another reason to manage the prices of your products well. The idea is to extract the maximum potential from the resources; that is, to produce more using the minimum.

By decreasing the cost of clothing, it becomes possible to campaign with good offers for consumers, stimulating the market dispute without putting the company’s financial health at risk.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

You may ask yourself: “Is it conceivable to begin a business with no money?”Let me start with this. Beginning a business with no cash is conceivable. You have a thought for a business; you don’t have any cash to begin it. Start your organization today for $0 with Incfile.com. The absence of capital is a typical reason for neglecting to begin a business. If you have the drive to begin a business, combined with a good thought and an extraordinary drive to succeed, you can begin a business with no cash.

Starting a new business is, without a doubt, the most difficult part of the undertaking. Having the courage to bet on your own company requires, in the first place, a lot of determination. One of the main reasons for insecurity when opening a business is to do it without money or with little investment.

According to a National Small Business Association study, 31% of small businesses did not obtain access to adequate capital in December 2014. The same study revealed that 76% of small businesses have debts.

Similarly, the New York Fed research, also published in 2014, showed that only 39% of the small businesses seeking loans were accepted.

The scarcity of resources, however, can be a good reason for creativity. When we need to find differential alternatives, we demand more of ourselves and look for formulas that, perhaps, would not be imagined if the investment were higher.

How to start a business without money

According to a study by the Brazilian Service of Support for Micro and Small Enterprises (BSSMS) published in 2014, 39% of entrepreneurs opened their business without knowing how much money they needed for working capital. Also, the study showed that 82% of the companies that closed in less than five years had planned of, maximum, six months.

Investing all the economic resources or getting into debt and not getting success is the greatest fear when opening the doors of a company of your own. However, good planning can contribute to business success, even if there is not enough money. Learn our tips:

Have an Action Plan

The Action Plan will make it possible to see all the alternatives necessary to achieve the desired objective. When we decide to open a business without money, the organization is even more important. Define, with care, what the most needed investment is and what can be worked with differentiated alternatives.

Sell ​​your idea

If you need an investment to start your business, sell your idea, available investors. When establishing a company, it makes clear from the beginning what the participation of the partners will look like, both in the benefit and in the routine within the company.

Use the Internet

With online access, you can reach many places without major investments. Create a page on Facebook or a blog to present your business to the virtual world. It will be an optimal way of relating to your consumer, as well as facilitating market research.

Also, online you can hire saving services agencies, make teleconferences, avoid locomotion expenses, and send and receive documents without printing.

Hire commissioners

Create strategic partnerships if you do not have enough money to offer a salary to an employee. It would help if you also sell your idea to possible commissioners, encouraging them to bet and grow together with the company.

Barter

Another way to obtain credit or services is to offer the possibility of a swap. That is, offer your service or product in payment of another. Despite not generating a liquid profit, it is a possibility to start a business without money.

Prepare for a total commitment

When the individual decides to leave behind the life of an employee and is committed to his idea, it is essential to keep in mind that everything will depend on him. It is necessary to focus totally so that the business arises in the best way, especially those who undertake without money or with little.

The entrepreneur must know that he will have to occupy several positions within the company. Although it is a delicate period, it is clear that the possibility of a good idea being successful is great with determination.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The world we live in today is run-on electrical appliances, and there is no way a person can eliminate them from their lives. However, that does not mean you have to pay a large number of bills every month.

Reading an electricity bill is not only confusing but also sometimes disheartening. Often, you sit there with your fingers crossed that your bill is lesser than what you paid last month. Unfortunately, it does not always work in your favor, and that puts you in a bind. Here seven smart tips to help you save on your electricity bill. v

Replace your light bulbs

One of the most important sources of electricity we use is light bulbs. Normally, people use incandescent bulbs in their homes. But did you know that you can save around 70% using LED bulbs compared to incandescent light bulbs? So, your first step should be replacing all incandescent lights with LEDs.

Use power strips to turn off electronic devices completely

You might not know this, but often, electrical devices, including printer, television, or your Wi-Fi, do not shut down completely. These devices have a red point that indicates “standby.” This status means that even if they are not being used, they do not stop consuming electricity. These standby devices can account for almost 10% off of your total electricity bill. So, make sure to strip off the electronic devices to reduce a significant amount on your bill.

Adjust your thermostat

Adjusting your thermostat according to the weather is one of the best ways to reduce your electricity bill costs. During the summers, keep the temperature adjusted between 20 to 18 degrees. Wear lighter clothes to let off steam. During winters, try setting the heat at 68 or 70. Wear warm clothes and a coat, keep your slippers on. This layering of clothes will help you in regulating your body temperature.

Turn off unnecessary lights and fans

Out of habit, we often tend to forget to turn off the lights and other electrical appliances when we step out of our room. Reverse this habit and switch off every electrical appliance when it is not in use. This habit is an additional way that will help you save a lot on your bill.

Use electrical appliances with A+++ Energy certification

Electrical appliances with A +++ certification are costly for sure. But consider them as an investment in your electricity bill. They have the lowest consumption guaranteed, and that helps you save a significant amount on your bill.

Wash and dry your clothes efficiently

Instead of washing your clothes with warm or hot water, try setting the washing machine temperature low enough to mix cold water with it. This mixture of warm and cold water will help you in not just saving on your electricity bill; it also makes the freshness of your clothes last longer. Not to forget that the stains go away easily, too. Also, instead of using the machine dryer, let your clothes air-dry.

Use your kitchen appliances efficiently

There are more appliances you use in the kitchen than anywhere else, and that is where you can save the most. Use the microwave only when needed and turn off the heat-dry setting on your dishwasher. Regardless of the appliance, you should not only decrease the appliance usage, but you should also strip the electrical appliance once you are done with it.

Keep an eye out for water heater temperatures

Water heaters, too, run on electricity. Make sure that you keep the temperature down when you are not using hot water. This turning down of the temperature saves hot water and significantly decreases costs on your bill. Heating costs might also be reduced by using a water heater jacket.

These are just a few tips that will come in handy to reduce your electricity bill costs. There are many more that can help you decrease and cut costs off your bill, so you do not have to dread checking the mail every month.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Benefits of Private Health Insurance: Is It Worth the Cost?

Private health insurance benefits include faster access to medical care, greater choice of healthcare providers, and premium hospital facilities compared to public insurance options. When you have private coverage, you’ll typically wait days instead of weeks for specialist appointments, choose doctors based on your preferences rather than network limitations, and enjoy private hospital rooms with better amenities. While these advantages are significant, they come at a higher cost that each person must evaluate against their specific healthcare needs and financial situation.

Benefits of private health insurance worth the cost

• Private health insurance offers faster medical care access, greater provider choice, and premium facilities, but comes at a higher cost that must be weighed against individual healthcare needs.
• Privately insured patients often receive specialty care in days rather than weeks or months, significantly reducing wait times for consultations and surgeries.
• Private coverage provides freedom to choose specialists based on reputation or expertise without referral requirements, unlike public insurance networks.
• With private insurance, you typically enjoy private hospital rooms, better amenities, and reduced infection risk, creating a more comfortable healing environment.
• Options like HSAs and HRAs can make private coverage more affordable for self-employed individuals while maintaining quality care access.

The Advantages of Private Health Insurance

Overview of private health insurance benefits

Private health insurance gives you speed, choice, and comfort that public systems often can’t match. You’ll get faster appointments, pick your doctors, and stay in nicer facilities. These private health insurance benefits can dramatically improve your healthcare experience by reducing stress during illness and potentially leading to better outcomes.

Post-WWII America saw private insurance enrollment surge from just 9% to over 70% between 1940–1960, driven by employer benefits and union negotiations. This history shows why private coverage became the backbone of American healthcare. Today’s health insurance plans continue this tradition while adding modern protections and benefits.

Faster access to medical care

Nothing matters more during a health crisis than quick treatment. Private insurance typically cuts wait times dramatically compared to public systems. In Germany, a 2020 study found privately insured patients waited just 8 days for specialty care versus 31 days for public patients—nearly four times faster.

This speed advantage applies to everything from initial consultations to complex surgeries. When you’re dealing with a painful condition or worried about a diagnosis, those weeks or months of waiting can feel like an eternity.

Case study: Reduced waiting times with private insurance

In the UK, where the National Health Service (NHS) provides universal coverage, private insurance has become a popular supplement for those wanting to skip lengthy queues. A patient needing knee replacement surgery might wait up to 18 months through the NHS but just 3-4 weeks with private coverage.

The Kings Fund reports that during peak times, private insurance holders in the UK receive treatment up to 12 times faster than those relying solely on public care. This dramatic difference explains why many Britons maintain private coverage despite having access to free public healthcare.

Increased flexibility in provider choice

Public insurance programs typically limit your provider options to their network. Private insurance—especially PPO plans—gives you the freedom to choose specialists based on reputation, location, or personal preference without jumping through referral hoops.

This flexibility becomes crucial when dealing with complex health conditions where finding the right specialist can significantly impact your outcome. You can select doctors based on experience with your specific condition rather than simply taking whoever is assigned to you.

Access to sophisticated facilities and private rooms

Have you ever stayed in a hospital ward with multiple patients? Private insurance often covers stays in private or semi-private rooms, which means better rest, fewer disruptions, and lower infection risks.

Private facilities typically offer upgraded amenities like better food, more comfortable furnishings, and enhanced privacy. While these might seem like luxuries, they contribute significantly to healing and reduce the stress of hospitalization.

Types of Health Insurance Plans: A Guide

Understanding PPO and HMO plans

Preferred Provider Organization (PPO) plans offer greater flexibility by allowing you to see specialists without referrals. You’ll pay more for this freedom—both in premiums and if you choose out-of-network care—but gain valuable control over your healthcare choices.

Health Maintenance Organization (HMO) plans cost less but require you to select a primary care physician who serves as your healthcare “gatekeeper.” You’ll need referrals for specialists and typically can’t see providers outside the network except in emergencies.

According to the Kaiser Family Foundation, HMOs cost an average of $437 less annually than PPOs for individuals. This cost difference represents the trade-off between affordability and flexibility that defines these plan types.

High-deductible plans and health savings accounts

High-deductible health plans (HDHPs) pair lower monthly premiums with higher out-of-pocket costs before insurance kicks in. These plans work well for generally healthy people who want protection from major medical expenses.

The key advantage is eligibility for a Health Savings Account (HSA), which allows you to save pre-tax dollars for medical expenses. HSA funds roll over year to year and can serve as a supplemental retirement account after age 65.

How to Choose the Best Private Health Insurance Plan

Evaluating health coverage options

Finding the right plan requires balancing coverage, cost, and convenience. Start by listing your regular medications, doctors, and any planned procedures. Then check if these are covered in the plans you’re considering.

Don’t just focus on premiums—calculate potential out-of-pocket costs based on your typical healthcare usage. Sometimes a higher premium plan with better coverage saves money overall for frequent healthcare users. Explore different health coverage options to find what suits your personal situation.

Tools from compare private health insurance resources can help you evaluate different plans side-by-side. Look beyond the surface features to understand how each plan would work with your specific health needs and financial situation.

Balancing premiums, deductibles, and coverage

Insurance shopping requires understanding three key numbers:

1. Premiums – Your monthly payment
2. Deductibles – What you pay before insurance kicks in
3. Copays/Coinsurance – Your share of costs after meeting the deductible

Lower premiums typically mean higher deductibles and vice versa. Consider your financial situation: Can you afford higher monthly costs, or would you prefer to pay more if you need care but less each month?

For chronic condition management, choose lower deductibles and copays. For occasional care needs, a higher deductible plan might save money through reduced premiums.

Individual and Family Coverage Options

Individual vs. family plans

Individual plans tailor coverage to one person’s needs. Family plans cover multiple household members under one policy, which simplifies administration and often costs less than multiple individual policies.

Family plans typically have combined and individual deductibles. This means once the family meets its combined deductible, insurance starts covering everyone, even if some members haven’t met their individual deductibles.

Special considerations for children and dependents

Children typically need more preventive care and have different healthcare needs than adults. Look for plans with strong well-child visit coverage, vaccinations, and pediatric dental/vision benefits.

College-age dependents can usually stay on family plans until age 26, thanks to the Affordable Care Act. This provides crucial coverage during the transition to independent adulthood when young adults might otherwise go uninsured.

Considerations for Freelancers and Small Business Owners

Affordable health insurance solutions

Being self-employed doesn’t mean going without coverage. Individual marketplace plans, professional association group plans, and Health Reimbursement Arrangements (HRAs) offer viable options for entrepreneurs seeking affordable health insurance.

HRAs let small businesses reimburse employees tax-free for individual health insurance premiums instead of offering traditional group plans. This approach gives employees flexibility while helping business owners control costs.

Health reimbursement arrangements (HRAs)

HRAs are gaining popularity among small businesses. A 2024 case study from Take Command Health showcased a 30-employee tech startup that saved $200 per employee monthly by switching from group insurance to a Qualified Small Employer HRA (QSEHRA).

This arrangement allowed employees to choose individual plans suited to their needs while the company provided tax-free reimbursement. The result was a 40% reduction in healthcare costs while maintaining quality coverage. HRAs represent a win-win for employees seeking personalized plans and businesses looking to control expenses.

Comparing Private Health Insurance to Public Options

Private vs. public health insurance: A comparison

Public health insurance like Medicare offers broad access at lower direct costs but often with more restrictions and longer wait times. Private insurance provides greater choice and faster access but at higher monthly costs.

A historical example comes from the UK, which introduced tax subsidies for private insurance in 1991, costing £135 million annually. The program was discontinued in 1997 when analysis showed it failed to reduce NHS strain, highlighting how private health insurance benefits don’t always translate to system-wide improvements.

Medicare supplement plans for seniors

Many seniors combine Original Medicare with private Medicare Supplement (Medigap) plans. This hybrid approach leverages Medicare’s comprehensive coverage while using private insurance to fill gaps and reduce out-of-pocket costs.

Medicare Advantage plans, offered by private insurers as an alternative to Original Medicare, often include dental, vision, and prescription coverage that Original Medicare doesn’t provide. These plans show how public and private options can complement each other rather than simply compete.

Making Your Decision: Key Takeaways

Private health insurance offers clear advantages in speed, choice, and comfort—but at a higher cost. Your decision should balance these benefits against your budget, health needs, and personal preferences.

For frequent healthcare users, those with specialist needs, or people prioritizing comfort and convenience, private insurance often justifies its cost. For those with limited healthcare needs who prioritize affordability, public options might be sufficient.

I’ve guided many clients through this decision process at Complete Controller. What I’ve learned is that healthcare choices are deeply personal—there’s no one-size-fits-all answer. The right plan is one that gives you peace of mind about your healthcare without creating financial strain.

Ready to make smarter financial decisions about your healthcare and other important aspects of your business? Visit Complete Controller for expert bookkeeping, controller, and financial management services that help you maximize every dollar while protecting what matters most.

FAQ

What exactly does private health insurance cover that public insurance doesn’t?

Private health insurance typically covers shorter wait times for appointments and procedures, access to a wider network of doctors and specialists, private hospital rooms, and sometimes experimental treatments not covered by public insurance. Many private plans also offer better coverage for dental, vision, and mental health services.

How much more expensive is private health insurance compared to public options?

Private health insurance generally costs 20-50% more than public options in monthly premiums. For example, while Medicare Part B costs about $170 monthly for most people, comparable private coverage might cost $350-500 monthly. However, the total cost difference depends on your usage, as private plans may have lower out-of-pocket costs for certain services.

Can I have both private insurance and Medicare at the same time?

Yes, you can have both, but there are specific rules about which insurance pays first. If you have Medicare and employer-based private insurance, the primary payer depends on the employer’s size. You typically cannot buy a new Marketplace plan if you already have Medicare, and you may lose premium tax credits if you keep both.

Are prescription drugs better covered under private or public health insurance?

Private insurance often provides more comprehensive prescription drug coverage, especially for newer medications. While Medicare Part D covers prescriptions, it has a coverage gap (donut hole) and may not include all drugs. Private plans typically offer more extensive formularies and sometimes lower copays, though they usually have higher monthly premiums.

How do I know if switching to private health insurance is worth it for my situation?

Calculate your typical annual healthcare expenses (including premiums, deductibles, and copays) under both options. Consider factors beyond cost: Do you need to see specialists frequently? Do you want specific doctors not covered by public plans? Is privacy important during hospital stays? If the benefits align with your priorities and the cost difference is manageable within your budget, private insurance may be worth it.

Sources

• Morrisey, Michael. “Health Insurance.” ACHE Management Series, 2021, www.ache.org/publications/health-insurance
• Kings Fund. “The NHS In Crisis: Understanding Healthcare System Challenges.” 2023, www.kingsfund.org.uk/publications/nhs-crisis
• Kaiser Family Foundation. “2019 Employer Health Benefits Survey.” KFF.org, 2019, www.kff.org/health-costs/report/employer-health-benefits-annual-survey-archives
• Take Command Health. “HRA Case Studies: Small Business Success Stories.” 2024, www.takecommandhealth.com/case-studies
• Heinrich, Niklas et al. “Waiting Times for Outpatient Treatment in Germany.” EconStor, 2020, www.econstor.eu/handle/10419/219317
• Healthcare.gov. “Choose a Health Insurance Plan.” U.S. Centers for Medicare & Medicaid Services, www.healthcare.gov/choose-a-plan
• Medicare.gov. “Compare Health Insurance Plans.” U.S. Centers for Medicare & Medicaid Services, www.medicare.gov
• Wikipedia. “Health Insurance.” Wikimedia Foundation, en.wikipedia.org/wiki/Health_insurance
• Complete Controller Blog. “Private Health Insurance Benefits.” Complete Controller, www.completecontroller.com/blog
• Complete Controller. “6 Amazing Benefits of Life Insurance.” Complete Controller, www.completecontroller.com/6-amazing-benefits-of-life-insurance
• Complete Controller. “Gain Your Freedom with Freelancing.” Complete Controller, www.completecontroller.com/gain-your-freedom-with-freelancing
• PeopleKeep. “How HRAs Work.” PeopleKeep.com, www.peoplekeep.com/hra-guide
• ValuePenguin. “Medicare vs. Private Insurance: A Comprehensive Comparison.” ValuePenguin.com, www.valuepenguin.com/insurance/medicare-vs-private-insurance
• EHealthInsurance. “Compare Private Insurance Plans.” eHealthInsurance.com, www.ehealthinsurance.com/resources/compare-plans

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

One of the highly valuable departments in any business is the human resources department. Because the human resource department is the central area where employee records are kept, the department’s data storage must be well maintained. The records maintained need to be accurate and protected from potential threats since they can be vulnerable to data breaches depending on the system used for data storage.

Below are the essential records kept in human resources:

• Personal information of the employee (name, date of birth, address, and other details)
• History of their employment, if any (start date, previous job title, promotions, and other details)
• Terms and Conditions (pay, holiday entitlement, hours of work)
• Absence details (lateness, maternity, sickness)
• Accident log (any work-related injury or incident)
• Training information (external and internal)
• Disciplinary actions (termination of employment)

Where should these vital employee records be stored?

Onsite Human Resource Database

Employee records can be stored with an onsite human resource database specifically designed to store and manage your human resource data. Though it can take time to set up and implement, the benefits of using an onsite database can be worth the work. This system can keep tracking accurate and accessible since it is maintained within the business.

Onsite human resource systems still have drawbacks. These systems can be expensive to obtain and maintain. They can also require staff to maintain the system.

Employee Records Stored Paper-Based

Perhaps the most basic storage for human resource data is to store their employee records in physical files organized in a cabinet. This method of storing employee records is archaic, but it is also the safest employee record storage option as there is no online data breached.

The drawback is that this system can be inefficient and cost time when employee records need to be accessed. This method can also take up a lot of space depending on how large the company is, requiring a lot of space to house all the records. With current technology, most companies do not use this way of storing data. Some companies still use it because they cannot afford an electronic system or are concerned with data leaks or breaches.

Employee Records Stored Electronically

The electronic storage system is different than the specifically designed onsite database storage. It is software designed to store human resource data but generally requires backup paper data and electronic storage. It will take up less space and be user-friendly, but it can also be vulnerable to data breaches or losses if the electronic system is accessed or goes down.

The drawback is that some software is difficult to understand how to use and the issues with data loss. It can also be vulnerable to data entry errors and does require a data entry clerk or more than one if the company is larger, so it does not save any time or staff needs to maintain.

Electronic Employee Records Through Cloud Storage

Electronic employee records using the cloud for storage area like the electronic system with a few differences. The information entered in the cloud storage can be accessed from anywhere using logins and passwords. This could be considered both an advantage and a drawback. It is advantageous because the work, including data entry, could be done from home or other offices. It is a drawback because it makes the data vulnerable to data breaches.

Because of the sensitive nature of the information stored by the human resources department, such as employee personal information and social security information, this vulnerability could make it worth space and expense to store data in a paper-based or onsite database not linked to the internet.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Plagiarism reflects misconduct, in which an individual intentionally or unintentionally uses someone else’s content without providing him or her an appropriate acknowledgment. For example, plagiarism within an educational institution often occurs when published content is used without properly citing the source. Likewise, in the field of art or media, plagiarism occurs when someone’s work is used without acknowledging the real creator of content or obtaining their consent to use their work.

There are many cases in which a student or researcher plagiarized their content without having any intention of doing so. Investigators sometimes work efficiently and effectively to eliminate factors that may cause plagiarism but are unable to. Students or writers mostly face this scenario when they copy the whole paragraph instead of a few sentences and inappropriately reference their source. They innocently may not have realized that this falls under the blanket of plagiarism. It is essential for students to take appropriate classes in which they are effectively taught to properly reference someone else’s work. However, plagiarism can become a potential barrier for the creative individual to develop unique content since there will always be the threat of plagiarism.

Scenario One

Jane Goodall, a British-born researcher, ethologist, anthropologist, and primatologist, was accused of plagiarism in 2013. With the help of freelancer Gail Hudson, Goodall has published Seed of Hope. They were then accused of using 12 various passages without giving credit to the original investigator. Jane Goodall had to postpone the publishing process worldwide since she was accused of using the content of another researcher without giving them credit. It was also found that some content was also taken from Wikipedia. Later, the publisher of Seeds of Hope and Goodall consented to extend the date of publishing so they can correct and eliminate the uncertainties from their book. Goodall has a habit of note-taking and, in the process, made an error by not acknowledging researchers.

Explanation

There are many online portals available that provide an opportunity for investigators to determine if their content is plagiarised. Turnitin is a common and popular software available to help writers check the validity of their content. Writers and investigators of a project have an idea that their investigation has a chance to be plagiarized. Therefore, it is vital for every investigator to proofread their content and provide valid resources and acknowledgments so their content can be free from plagiarism. This process will allow the researcher to produce effective, plagiarism-free work and help them avoid any legal allegation of plagiarism.

Scenario Two

In 2017, Ed Sheeran was accused by Thomas and Harrington, stating that Sheeran has used 39 of the same notes in his song, and those similarities were recognizable amongst their audience. Matt Cardle, the winner of the reality show X-Factor, has also filed a complaint against Ed Sheeran and accused him of copying the same notes of his song, which they have made five years back. Ed Sheeran was allegedly put on a lawsuit of nearly $20 million because of his famous song, The Photograph. Renowned musicologist Dr. Joe believes that this case against Ed Sheeran is simple as many similarities can be found in both songs. This was the second case of plagiarism in which Ed Sheeran was accused. Thomas removed this case of plagiarism after settlements were made between both parties.

Explanation

It is vital for the investigator or researcher to give proper and justified acknowledgment to the author or researcher whose context or work is used in their investigation. If any researcher is using someone else content, which includes content, charts, pictures, graphs, and tables, without giving them credit, it is called misconduct or plagiarism. It can have negative, severe consequences, including breach of concealment, which may lead the author into legal issues punishable by law.  

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Since the customer supports your business, it is normal to try and satisfy them as much as possible. However, dealing with an unhappy customer can be stressful if you do not know how to handle the situation.   With this in mind, we have steps that will allow you to approach a dissatisfied customer serenely and avoid losing them!

1. Adopt the right attitude

When an unhappy client calls you, it is imperative that you remain calm. Your goal is to listen, analyze, and propose a solution to the problem.

The first thing to do is to invite him to present his problem in detail.

When he has finished explaining the situation, you must show him that you have received his message he wanted to convey to you. Rephrase the facts to confirm you understand the situation he presented.

Next, show empathy and try to put yourself in the customer’s shoes. If you can identify the state in which the dissatisfied customer maybe (not having received his order in time for a birthday, for example), it will be easier for you to imagine how you would also be dissatisfied.   It is, therefore, necessary to reassure the client by indicating that you fully understand his dissatisfaction and that together, you will try to find a suitable solution.

Throughout the exchange, it is essential for you to always maintain your calm and your composure. If the customer gets upset, then try to reason with him. If he is raising his voice, then speak more softly. If insults or threats are heard, tell him soberly that his behavior will not advance the situation and that if he continues to be unpleasant, you will have no choice but to end the discussion. It is vital to build the relationship by doing everything possible to defuse any tension.

2. Identify the problem

When a dissatisfied customer contacts you, you do not necessarily know what the reason is. If you want to bring a relevant solution to your problem, you must first determine the problem: is it a product or service? Shipping problem? A bad user experience on your website?

It can be tempting to interrupt the customer but wait until he has finished explaining and contextualizing the problem. If necessary, take notes that you can reference later when you try to resolve the issue.

3. Determine the type of client you are dealing with

The more the dissatisfied customer expresses himself, the more he will reveal elements of understanding that will guide your speech and approach. We can distinguish 5 types of dissatisfied customers with whom we should interact differently:

The procedural client

Generally cold or aggressive in his remarks, this first type of customer does not hesitate to let it be known that he is disappointed and tends to insist on unimportant details. With them, it is important to bring down the tension by saying that you have identified the problem and that you will make every effort to ensure that it does not happen again. Do not resort to excuses. The goal is not to prolong the exchange with these people. Defuse the tension and make sure to close the debate quickly by compensating the customer.

The opportunist client

This type of client is clever since he is aware that the complaint is exaggerated or does keep with the harm he suffered.

Generally, he is motivated by obtaining a financial or material compensation (voucher, delivery, sending a new product…) If you have doubts about the merits of the customer’s complaint, do not hesitate to ask him to provide evidence (invoices, photos…) that will allow you to determine whether his request is justified.

If it turns out that you are dealing with an opportunistic client, do not give in to all his demands but simply compensate him for the damage he has suffered. Even if his complaint is completely unfounded, it may be best to grant him something.  If he were to leave empty-handed, it is possible that he decides to go and spread unflattering information about the company.   On the other hand, if he gets some compensation, he will leave appeased. Make sure to put the customer on a special list, so his next attempt to get something from you be firm and refuse any compensation.

The emotional client

The dissatisfied customer, who remains friendly and tries to leverage emotions, is called the emotional client. He will appeal to your empathy and generosity to obtain reparation by highlighting the consequences of the problem or by insisting that he has been buying from you for a long time. If his goal is to get compensation, he can be considered different from the opportunist client.

The emotional client is usually a good customer who wishes to be entitled to certain “special” attention. In this case, it is important to understand what the customer expects from you to best meet their needs. Take time to determine what is wrong and make a commercial gesture if possible.

It may also be relevant to ask your customer directly what they expect of you to feel important. Finally, take time to thank him for his time.  It will reinforce his notion that he is more than just another customer.

The sincere customer

If you are dealing with this type of dissatisfied customer, be grateful because they are the ones that will pose the least problems.

The sincere customer will indicate what has not worked in a factual and authentic way without waiting for something in return. He often bases his complaint on facts without magnifying or minimizing them.  He simply wants the problem to be recognized.

It is important to acknowledge that the mistake is human, and you recognize something did not go well. Find out as much as you can about what caused the customer’s dissatisfaction, and make sure everything is going to be done so that it does not happen again.  Also, thank him for his constructive comments. A commercial gesture is also recommended depending on the discussion.

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Business debt is not unusual; it is expected, especially if your small business is a start-up. However, with some businesses, debt has become overwhelming. Debt, whether in personal finances or business, is not only inevitable but manageable. If you keep a tight budget and focus on keeping your debt under control, you will never get underwater with debt in your business. Here are six ways you can minimize and even eliminate debt for your small business.

Assess and Rework Your Budget

Setting a budget should be a part of your business plan. It is also a changing aspect of your business that needs regular assessment and reworking when necessary. Hire an accountant or bookkeeper or use accounting bookkeeping software. The main focus is to get a budget. Many small business owners have not done one, to their detriment.  

Reduce Expenses

Once you complete your budget take a look at all your expenses. If done correctly, your budget will reveal where their expenditures are and are not essential to the business. Once you have assessed your expenses, pick a few to cut from your budget. Even one unneeded expense can add up to huge savings at the end of the year.

Temporarily Pay with Cash

The primary source of business is debt is loans or other lines of credit. Some even use credit cards to try to pay for the needs of the company. For some time of your choosing, only to pay with money, you know you have. Do not take out more loans to pay a debt. It is easy to lose control if you have too many loans to pay back.

Communicate with Creditors and Lenders

Most business owners do not realize that lenders and creditors will often work with you through hardships. Even if you make a lower payment arrangement, they are getting paid. Most lenders would prefer to work out a payment reduction than send it to a debt collector because they only get pennies on the dollar of what the debt is. Creditors also have an interest in you paying something rather than defaulting. Communication is key.

Consolidate and Stack

There are ways you can consolidate your debt, making it one monthly payment instead of one. Generally, you will have to go through a third party willing to take on all your debt and receive one payment. The other method you should incorporate is the stack method. This method entails you paying down from highest to lowest. This saves on interest, and the surplus created can go towards the next debt on your list.

Hire a Debt-Restructuring Firm

If you cannot take care of debt independently, hiring a debt-restructuring firm is a great choice. They specialize in not only restructuring debt but help you explore every possible way to repay your debt quickly. These firms also have the contacts to consolidate your debt, making it manageable with only one payment.

While hiring a debt-restructuring firm will incur some cost, it is far less expensive to pay them to get your business on track and out of debt than to continue compounding your financial issues with high-interest rates and the piling of others debt.

Conclusion

If all else fails, you still have options. For businesses that cannot manage their debt, it might be time to think about selling the business, liquidating all assets, or filing for bankruptcy. But before taking those extreme measures, try reworking your budget, reducing your budget, temporarily paying with cash, communicating with creditors and lenders, consolidating, stacking, and hiring a debt-restructuring firm. One or more of these can turn your business around.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

There are two main sources of finance, which are internal and external finance. It is basically up to the organization of how it wants to employ the funds. Still, then again, it needs to look into the requirement and also the current financial ratios calculated from the financial statements. It all boils down to particular aspects, whether the funds are going to offset or sustain the working capital requirement and networking capital cash cycle or if the organization is going through expansion and wants to incur a heavy capital expenditure.

Internal resources of Funds

The internal source of finance is the sources of capital for a business organization, which are rendered by the organization itself by its normal business activities. These funds include the usage of retained profit, receiving an amount of the trade receivables, selling off the currently owned assets, etc.

Using of Retained Profits

Retained profit is called the internal source of funds for a business, considered low cost. Retained profit can be described as the profit left after paying a dividend to the shareholders or drawings by the investors. It is a long-term source of funding for an organization because of no necessary maturity.

Trade Receivable

Trade receivables are amounts allocated by a business to its clients when it delivered products and services to them in business operation. It is also known as low sources of funds. This source of funds involves constraining the credit control and forcing borrowers to pay back the dues.

Sale of assets

Another important internal source of funds is the selling of the assets. When an organization sells off its assets, the amount generated is utilized internally to invest in the capital needs. It can act upon as short-term and long-term funds depending on the worth of the sold asset.

External Source of Funds

If an organization cannot fulfill its financing need by internal sources, it may seek external funding sources. Such sources are debentures and bounds, the issue of shares, and term loans, etc.

Debentures & bonds

Bonds and debentures are issued for a fixed period, usually for the long-term period of about 10-15 years. It carries interest known as ‘coupon’ and needs to be paid annually, semi-annual, or quarterly. It depends upon the purchase of bonds. 

Lease terms

A lease fund is a product of financial institutes and banks. It is an important source of medium & long-term financing. An organization takes help from these sources, in the case of a shortage of funding where the bank buys assets as particularly by the organization and allocates the asset to the company on the lease.

Issuance of shares

This source of funding involves the numbers of shares of an organization, which have been apportioned and apprehended by shareholders. The process of generating newly issued shares known as issuance. There are two types of shares, equity shares and preference shares.

Equity shares

It is also known as an ordinary share. The actual shares holder is the owners of the organization. They have the right to decide, in the shareholders’ meeting, as per their shareholding and the profit and loss of the organization. It is a permanent source of financing, and the organization has to decompensate it except under settlement.

Preference shares

Preference shares work as a liability. The preference shareholders do not have the right to vote and decide but get the fixed amount of dividend, and preference shareholders will be the first to be paid.

Term loans

The most common sources of financing are term loans and frequently used by organizations. It is further categorized into three types: short-term, medium-term, and long-term.

• Short-term loans, usually running less than one year.
• Medium-term loans range from 1-5 years; these loans are repaid in monthly segments.
• Long-term loans are usually set for more than five years; most are between 5 to 10 years.

Term loans borrowed by banks to fulfill the organization’s capital needs and pay interest charges to the bank until the maturity date.

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.