Some employers decide they won’t offer health insurance benefits based on costs and the amount of paperwork they need to complete for it. They don’t want to take extra time to break down the costs, but offering benefits could potentially save the company money in the long run. Benefits are also becoming an important aspect of a candidate’s job search. Benefits are an offering that can help make a job more appealing to candidates and can establish credibility for your business. These are the benefits to offering health insurance to your employees:
Who doesn’t love a tax advantage? If you purchase group health insurance and meet the criteria, you can get a tax credit. Tax credits are usually available for smaller businesses with less than 25 employees. You can also use the full cost of health insurance as a tax deduction no matter how big or small your business is.
Save everyone money
Purchasing group health insurance is much cheaper than purchasing individual health insurance. It creates an incentive for potential employees and works as a way to attract more qualified candidates to your business. You’ll bring in more revenue when you have a successful, healthy team who is always ready to do their job.
Offering health insurance to your employees gives them the opportunity to stay in good health so they can show up to work and do their job. Healthy employees are productive ones. You won’t have to worry about the need for constant leave of absences due to health issues if you offer health insurance because your employees will have access to the resources they need to stay in good health. An increasing amount of candidates are interested in benefits when they are on the search for a job. You could end up finding more qualified employees who asses important qualities like this one in a job. Benefits could also decrease the likelihood of medical problems arising in the future and can keep your employees around longer. After all, you don’t want to hire employees that are in and out your company every few months. It is desirable to hire employees who are looking to grow with your company and be satisfied in their job.
Do you offer your employees health insurance benefits? Why or why not? If you have any questions regarding insurance, contact us so we can discuss your options. Our team of experienced professionals is always eager to lend a hand.