Do you own a small business? Are you wondering if you really need to offer health insurance to your employees? Are you thinking that many small businesses do not offer any health insurance and the government doesn't require it so it is a good way to save on cost? If you answered yes to any of these questions, you are not alone. However, it is beneficial to both you and your employees to have workplace health insurance. Here's why:
- You want to make your employees happy. You value the people that work for you each day and want to offer them health benefits as a reward.
- You want to hire and keep the best employees. The fact that a company offers health insurance may be a make it or break it factor when a new employee is choosing between possible jobs or a current employee is deciding whether to stay at a job or look for a new one.
- Increased productivity and decrease in absenteeism. Employees that know they will be covered if anything should happen to them are more likely to attend work everyday and work to their potential. This may occur because preventative care measures are being taken by employees who have health insurance, thus avoiding potentially more serious health problems.
- Tax deductions. Did you know that 100% of insurance premiums are a business tax deduction?
- Pre-tax premium contributions. When employees access health insurance through an employer, their share of the premium is taken out of their paycheck before taxes are taken out. This is more beneficial to an individual than paying with after-tax money, which is what they do if they have to purchase health insurance on their own.
- Cheaper group rates. In New York, group rate health insurance is much less expensive than individual health insurance.
- HSAs. Health Savings Accounts offer a flexible way for business owners to offer health insurance while keeping their costs at a minimum.
Take another look at your company and your employees. Decide what your specific needs are and find a plan that fits those needs. Insurance companies offer plans for small businesses as small as 2 individuals and as large as 50 persons. Whatever your reason is for looking into health insurance for your company, get your business quote today.
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