Health Insurance Benefits

Estimates believe anywhere from 45 million to 50 million Americans are uninsured. It goes without saying that it benefits both the employer and employee to have health insurance available for your employees.

That being said, the percentage of small business owners offering health care insurance to employees has been declining since 1996. In order to reverse that trend, small business owners and employees need to see the benefits to having health insurance in the workplace.
For one, those small businesses offering health insurance end up attracting and retaining better workers. Secondly, money paid for health premiums is entirely tax deductible.
While these things don't make health care insurance less expensive, it does assist in balancing out the expense of investment.
When looking at what health insurance plans should be made available to employees, look at:
  • The number of employees on your payroll
  • Employee demographics
  • The amount your small business will be able to invest.
Keep in mind that worker illness and productivity do certainly impact an employer’s finances. According to the Journal of Occupational and Environmental Medicine, the loss of productivity from showing up to work sick was four times greater than the medical or pharmacy expenses tied to the illness.
While the costs to business owners continue going up, more companies are shopping around for better affordable health care options, hoping that such plans will still attract quality workers.


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